First Bank of Nigeria Limited says
it has received the approval of the Central Bank of Nigeria to commence the
sale of foreign exchange to licenced Bureau De Change operators.
The lender, in a statement on
Thursday, said it had strengthened its money transfer services in compliance
with the rules and directives of the CBN.
The bank also said it had sold
dollars to over 500 BDC operators in line with the CBN directive aimed at improving
dollar liquidity and strengthening the naira, following the implementation of
the flexible foreign exchange policy.
“The CBN’s pronouncement is a
testament to the bank’s strong financial base and its avowed support to the
growth and development of a sustainable national economy,” it added.
The Chief Financial Officer, First
Bank, Patrick Iyamabo, said the lender would continue to strive to upscale its
services to customers.
He said, “We will continue to
leverage our unique ability to grow and capitalise the institution – a
testament to our solid track record. Our highest priority remains meeting the
financing and banking needs of our customers, by providing world-class
services, knowledge and expertise to support them, even in very difficult
times.”
“The bank remains committed to
corporate governance principles and would continue to ensure that dollars sales
to the BDC operators continue in a seamless manner for ease of distribution to
the end users.”- BN
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