The Central Bank of Nigeria (CBN) has extended the Foreign Exchange (FX) sale period to Bureau de Change (BDC) operators until May 30, 2025. This extension is designed to better serve retail market demands.
The CBN announced this in a circular signed by Dr. W. J. Kanya, the Acting Director of the Trade and Exchange Department, to BDCs. The previous deadline of January 31, 2025, has been shifted to May 30, 2025, to provide more time for BDCs to purchase FX from authorized dealers, with a weekly cap of USD 25,000.
The CBN emphasized that all other terms and conditions from the earlier circular remain unchanged, reaffirming its commitment to ensuring a fully functional foreign exchange market and managing price volatility.
