Dollar to Naira Exchange: CBN issues fresh guidelines for BDCs on FX purchases, announces portal

The Central Bank of Nigeria, CBN, has issued caller guidelines connected however licensed Bureau de Change, BDC, operators tin acquisition overseas exchange.

The guidelines, signed by the CBN’s Director of the Trade and Exchange Department, Aderinola Shonekan, were issued successful a circular dated July 15, 2026.

According to the apex bank, the guidelines supply regulatory guidance and operational modalities to facilitate the seamless implementation of the model and enactment sustained liquidity successful the retail conception of the overseas speech market.

To facilitate the implementation of the guidelines, the CBN announced an physics portal to heighten enactment betwixt BDC operators and the Nigerian Foreign Exchange Market (NFEM).

The apex slope warned that nonaccomplishment to adhere strictly to the guidelines would pull sanctions.

“All authorized trader banks and licensed Bureau de Change (BDC) operators are hereby informed that, further to the circular dated 10 February 2026 allowing BDCs to entree overseas speech from the Nigerian Foreign Exchange Market (NFEM) done authorized trader banks of their choic...