CBN Rolls Out New FX Rules, Unveils Major Update for BDC Operators

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The Central Bank of Nigeria (CBN) has released new guidelines outlining the procedures licensed Bureau de Change (BDC) operators must follow when purchasing foreign exchange.

The directive was contained in a circular dated July 15, 2026, and signed by the CBN’s Director of the Trade and Exchange Department, Aderinola Shonekan.

According to the apex bank, the new guidelines are intended to provide regulatory direction and operational procedures for the smooth implementation of the framework while promoting sustained liquidity in the retail foreign exchange market.

As part of the implementation process, the CBN also introduced an electronic portal designed to improve engagement between BDC operators and the Nigerian Foreign Exchange Market (NFEM).

The apex bank cautioned that any operator who fails to comply fully with the provisions of the guidelines would face appropriate regulatory sanctions.

Meanwhile, the naira strengthened against the United States dollar for the second time this week, closing at N1,381.53 per dollar on Thursday.

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