The Central Bank of Nigeria (CBN) has issued new guidelines outlining how licensed Bureau de Change (BDC) operators can purchase foreign exchange from the Nigerian Foreign Exchange Market (NFEM).
The directive, contained in a circular dated July 15, 2026, and signed by the CBN's Director of the Trade and Exchange Department, Aderinola Shonekan, aims to improve transparency, efficiency, and liquidity in the retail foreign exchange market.
As part of the new framework, the CBN has also launched an electronic portal to streamline interactions between authorized dealer banks and licensed BDC operators, making foreign exchange transactions more efficient.
The apex bank instructed all authorized dealer banks and licensed BDCs to comply immediately with the new operational guidelines, warning that any violation of the rules will attract regulatory sanctions.
According to the CBN, the framework is designed to ensure an orderly and transparent foreign exchange market while supporting sustained liquidity for retail transactions.
Meanwhile, the Nigerian naira continued its recent gains, appreciating to ₦1,381.53 per US dollar at the official foreign exchange market.
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