As the Central Bank of Nigeria (CBN) resumed sales of foreign exchange to licensed Bureau De Change (BDC) operators in the country beginning Sept. 7, Everdon Bureau de Change, a Dun and Bradstreet certified Foreign Exchange company based in Lagos, says it is fully prepared for the challenges ahead.
The technology-driven FX operator noted that businesses and individuals can place orders and broker foreign currency transactions more conveniently than ever before, as it trades in major global currencies, including the US dollar, UK pound sterling, and the Euro.
The CBN had announced in a circular signed by Dr. Ozoemena Nnaji, Director Trade, and Exchange Department, and addressed to authorized dealers and BDC operators recently.
The apex bank said the step was part of efforts to enhance accessibility to foreign exchange, particularly to travelers following the announcement of the limited resumption of international flights by Minister of Aviation, Hadi Sirika
The circular read in part: “The CBN hereby wishes to inform the general public that gradual sales of foreign exchange to licensed BDC operators will commence with effect from Sept. 7.
“Consequently, the purchase of foreign exchange by BDCs shall be on Mondays and Wednesdays in the first instance. The BDCs are to ensure that their accounts with the banks are duly funded with the equivalent naira proceeds on Fridays and Tuesdays accordingly.
“Meanwhile, authorized dealers of Deposit Money Banks shall continue to sell foreign currency for travel-related invisible transactions to customers and non-customers over the counter upon presentation of relevant travel documents, passport, air ticket, and visa.
“All authorized dealers and BDC operators are hereby advised to ensure strict compliance with the provision of the extant regulation on the disbursement of foreign exchange cash to travelers as any case of infraction will be appropriately sanctioned.”
In a statement, Everdon revealed that its business is fashioned around customers’ needs for speed and convenience, explaining that currency exchange orders can be placed directly on its website, by email or phone. While its team of competent agents completes the transaction in a timely and professional manner.
Investigations showed that the company which commenced operations in June 2014, has facilitated millions of dollars worth of foreign currency trade and transfers to and on behalf of customers.
With an expanding network of clients and agents, the company boast of significant potential to achieve even more, on a global scale.
It also operates both as a foreign exchange company, conducting wholesale and retail trades in major global currencies, and as a broker for individuals and corporations of all sizes.
In addition, Everdon Bureau de Change facilitates quick and easy currency trades – online and offline – at competitive rates, stressing that it did not charge commission and there are no hidden fees when customers transact with the firm.
About Everdon Bureau de Change
Everdon Bureau de Change is a wholly-owned subsidiary of VFD Group Limited, a financial services group headquartered in Lagos, Nigeria. Our operating license was granted in January 2014. We are monitored by the Central Bank of Nigeria and are fully compliant with all federal regulations governing the operations of Bureau de change in Nigeria.
Our currency exchange services include cash delivery, forex transfers, and receipts, forex investments, and daily rate alerts. We are especially adept at managing large-volume and wholesale trades, whether you buy directly from us or we enable you to trade with a third party.