Travelex, an international money agent, has commenced sales of dollars directly to travellers on Friday.

The company’s office at the Muritala Muhammed International Airport, Lagos was filled with hundreds of travellers looking to buy dollars at a price better than both Bureau de Change and parallel market’s price.

The international money agent sells at N356 to a dollar, while Bureau de Change operators within the terminal were selling from N470 to N472 to travellers.

Although, Travelex sells at a moderate price, however, the company gave stringent conditions for the purchase. Travellers are required to bring valid international passport, visa to destination, Biometric Verification Number (BVN) card, airline boarding pass and signed copy of the transaction.

The company also directed that cash would only be handed over to the traveller at the boarding gate after security and immigration checks.

According to Travelex “These conditions are to ensure that the dollar is sold to only genuine travellers, and discourage racketeering.”

Accordingly, some of the travellers were unable to purchase dollars because they could not produce their BVN cards.

A traveller, Mr Uche Ikediashi, said he didn’t know about the BVN card.

“Yesterday I bought dollars from a BDC at N470. Today I was told that Travelex is selling at N356; that is why I came here, but they said I needed to bring my BVN card and I don’t have it,’’ he said.

While another traveller, Mr Samson Uduak, commended the CBN for the initiative, he said it has created easy access to forex for travellers.

“Buying directly from Travelex is very good, but the CBN needs to sensitise Nigerians to go and obtain their BVN cards from their banks,” said Uduak.

http://investorsking.com/travelex-sells-dollars-at-n356-to-travellers/

Good news hopefully this will reduce the pressure on the naira.

Good!
but which 1 is bvn card again

That is why Travelex introduced compulsory biometric registration before selling to BDC operators. It will curb their activities to some extent and help boost liquidity in the market. Maybe that is why some of the BDC operators are reluctant to register.

Don't forget Travelex also sell dollars as well, so this move will ease the economic gridlock. Just the announcement already bolstered Naira value on the parallel market.

When I said the above this morning, I didn't know it will be this fast. Travelex has dropped price from N470 to N356 per dollar within 12 hours. Better days ahead.

good news to travelers...

Fantastic! In less than 24hours

Botu this BVN card matter tho'
Can't they verify via BVNumbers?
And it's not like banks are pushing any awareness for this BVN cards the way they did with getting the BVNumbers!

lightheart:
Fantastic! In less than 24hours

Botu this BVN card matter tho'
Can't they verify via BVNumbers?
And it's not like banks are pushing any awareness for this BVN cards the way they did with getting the BVNumbers!

bvn cards are for travelers, if u travel a lot, u wld av been informed on how to get it

Never heard of BVN card oo. So what are the processes involved to get one?

How wailers avoid this thread

What is bun card? And how do I get it?

KINGwax007:
bvn cards are for travelers, if u travel a lot, u wld av been informed on how to get it

Why not tell us how to get it?

We are all learners here

People with dollars under their mattresses should start selling their dollars o, the price will soon crash .

Are they still selling ??

BADNEAT:
Are they still selling ??

Yes

Truth234:


Yes

heard they didn't sell late December , do you know anyone that has gotten this year ??and are they still asking for bvn card

BADNEAT:
heard they didn't sell late December , do you know anyone that has gotten this year ??and are they still asking for bvn card

I don't have anyone that has gotten it this year, but I am certain late December was off period, the CBN stopped dollar sales to BDCs but they've resumed last week.

http://investorsking.com/cbn-resumes-sales-forex-bdcs/

Truth234:


I don't have anyone that has gotten it this year, but I am certain late December was off period, the CBN stopped dollar sales to BDCs but they've resumed last week.

http://investorsking.com/cbn-resumes-sales-forex-bdcs/

so without bvn card I can't buy ?

def111:



so without bvn card I can't buy ?

You need your BVN card

wristbangle:
Never heard of BVN card oo. So what are the processes involved to get one?

Visit the branch where you initially registered for your BVN. They should have it with them.