The Central Bank of Nigeria (CBN) has extended the foreign exchange (forex) sale period to Bureau de Change (BDC) operators in the country until May 30.
This aims to better serve retail market demands.
The CBN disclosed this in a circular issued by the Acting Director of the Trade and Exchange Department, Dr W. J. Kanya, on Monday, February 3, 2025.
The apex bank shifted the previous deadline of January 31.
Naira trades N1,495/$ at official market
It stated: “We refer to our circular TED/FEM/PUB/FPC/001/030 dated December 19, 2024, which granted temporary access to existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00.
“The expiry date of January 31, 2025, which was granted in the above mentioned circular has been extended to May 30, 2025.
“All other terms and conditions in the above mentioned circular remain unchanged.”
The CBN added that it remained committed to ensuring a fully functional foreign exchange market and would continue to provide liquidity to manage price volatility.
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