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Events / Nigeria CBN Allows BDCs Weekly FX Access
Regulatory regulatory change

Nigeria CBN Allows BDCs Weekly FX Access

Analysis based on 15 articles · First reported Feb 10, 2026 · Last updated Feb 11, 2026

Sentiment
40
Attention
6
Articles
15
Market Impact
Direct
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Market Impact

The directive from the Nigeria===Central Bank of Nigeria is expected to improve foreign exchange liquidity in the retail segment, potentially strengthening the Nigeria===Nigerian naira and narrowing the gap between official and parallel market rates. This move is generally positive for the financial markets, as it aims to stabilize the foreign exchange market.

Financial Services Foreign Exchange
Event Summary

The Nigeria===Central Bank of Nigeria has approved the participation of licensed Bureau de change operators in the Nigerian Foreign Exchange Market, allowing each BDC to purchase up to $150,000 weekly. This decision, outlined in a circular signed by Dr. Musa Nakorji, aims to enhance foreign exchange liquidity in the retail segment and address the widening gap between official and parallel market rates. The Nigeria===Central Bank of Nigeria has also imposed strict compliance, KYC, and reporting requirements on these transactions, prohibiting third-party transactions and limiting cash settlements. This policy shift is intended to stabilize the foreign exchange market and ensure broader access to foreign exchange while maintaining financial system integrity.

Entities Involved
cbnk
Nigeria===Central Bank of Nigeria
The Nigeria===Central Bank of Nigeria has approved the participation of licensed Bureau De Change operators in the Nigerian Foreign Exchange Market, aiming to improve foreign exchange liquidity and narrow the gap between official and parallel market rates. This move reflects a strategy to balance market access with strong regulatory oversight.
Importance 100 Sentiment 50
curr
Nigeria===Nigerian naira
The directive is expected to ease pressure on the Nigeria===Nigerian naira by expanding supply channels and narrowing the gap between official and parallel market rates, which had widened significantly.
Importance 70 Sentiment 30
per
Musa Nakorji
Musa Nakorji, as the Director of the Trade and Exchange Department at the Nigeria===Central Bank of Nigeria, signed the circular detailing the new foreign exchange regulations.
Importance 10 Sentiment 0
ngo
Association of Bureau De Change Operators of Nigeria
The Association of Bureau De Change Operators of Nigeria had previously raised concerns about the hardship faced by Bureau de change operators in accessing dollars, which this new directive aims to address.
Importance 10 Sentiment 0
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