The Central Bank of Nigeria (CBN) has extended the deadline for foreign exchange (FX) sales to Bureau de Change (BDC) operators from January 31 to May 30, 2025.
This decision, announced in a circular signed by Dr. W.J. Kanya, Acting Director of the Trade and Exchange Department, aims to meet the growing needs of the retail market.
The circular was sent to BDC operators on Monday and also published on the CBN’s website.
According to the circular titled “Sales of Foreign Exchange to BDCs to Meet Retail Market Demand for Eligible Invisible Transactions,” the new deadline allows BDCs to continue purchasing FX from authorized dealers, with the weekly limit still set at $25,000.
All other conditions from the previous directive, issued on December 19, 2024, remain the same.
The CBN assured that it will keep supporting the foreign exchange market to maintain stability and manage price fluctuations.
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