Rabiu: BUA Group Now Buys Dollars From Banks, Not CBN

Nigerian billionaire and Chairman of BUA Group, Abdul Samad Rabiu, has confirmed that his companies no longer require direct foreign exchange allocations from the Central Bank of Nigeria (CBN), instead sourcing their dollar needs from commercial banks at market-determined rates. This shift marks a significant development in Nigeria’s efforts to liberalise its foreign exchange market and reduce the CBN’s direct involvement in currency allocation.