Dollar to Naira Exchange: CBN issues fresh guidelines for BDCs on FX purchases, announces portal
Why This Matters
The Central Bank of Nigeria's issuance of fresh guidelines for Bureau de Change operators on foreign exchange purchases marks a significant shift in the country's FX management strategy, potentially impacting the availability and accessibility of dollars for Nigerians. This move comes as the country continues to grapple with a complex FX market, influenced by global economic trends and domestic economic policies. The introduction of a portal for BDCs to purchase FX also underscores the CBN's efforts to enhance transparency and efficiency in the FX market.
The Central Bank of Nigeria, CBN, has issued fresh guidelines on how licensed Bureau de Change, BDC, operators can purchase foreign exchange. The guidelines, signed by the CBN’s Director of the Trade and Exchange Department, Aderinola Shonekan, were issued in a circular dated July 15, 2026. According to the apex bank, the guidelines provide regulatory […] Dollar to Naira Exchange: CBN issues fresh guidelines for BDCs on FX purchases, announces portal
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