CBN issues fresh guidelines for BDCs on FX purchases, launches electronic portal
By Aboki Forex —
The Central Bank of Nigeria (CBN) has issued new guidelines governing how licensed Bureau de Change (BDC) operators can purchase foreign exchange, and announced an electronic portal to manage the process. The guidelines were signed by the CBN’s Director of the Trade and Exchange Department, Aderinola Shonekan, in a circular dated July 15, 2026.
New regulatory framework for BDC FX access
The CBN stated that the guidelines provide regulatory guidance and operational modalities to facilitate the seamless implementation of the framework and support sustained liquidity in the retail segment of the foreign exchange market. The apex bank warned that failure to adhere strictly to the guidelines would attract sanctions.
“All authorized dealer banks and licensed Bureau de Change (BDC) operators are hereby informed that, further to the circular dated 10 February 2026 allowing BDCs to access foreign exchange from the Nigerian Foreign Exchange Market (NFEM) through authorized dealer banks of their choice, the CBN has issued detailed regulatory guidance and operational modalities to facilitate the seamless implementation of the framework and support sustained liquidity in the retail segment of the foreign exchange market,” the circular read.
Electronic portal to enhance transparency
To facilitate the implementation of the guidelines, the CBN announced an electronic portal to enhance interaction between BDC operators and the Nigerian Foreign Exchange Market (NFEM). The apex bank said the framework is intended to enhance transparency, efficiency, market liquidity and orderly participation in the retail segment of the NFEM.
“Accordingly, all authorized dealer banks and licensed BDCs are required to familiarise themselves with and comply strictly with the attached Regulatory Guidance and Modalities with immediate effect,” the CBN added. “Please note that violations of the provisions of the circular and the attached guidance shall attract appropriate regulatory sanctions.”
Naira gains ground
DAILY POST reports that the naira appreciated for the second time this week, closing at N1,381.53 per dollar on Thursday. The fresh guidelines and the new electronic portal are expected to improve transparency and liquidity in the retail FX market, which could help stabilise the naira and ease access to foreign exchange for small businesses and individuals.