Operational guidelines for commencement of foreign exchange (FX) trading by Bureau de Change (BDC) operators are expected to be released this week.
President of the Association of Bureau de Change Operators of Nigeria (ABCON), Aminu Gwadabe, disclosed this to BusinessDay on Monday, indicating that the long-awaited framework to guide the participation of licensed operators in the official market is imminent.
“Operational guidelines for resumption of trading will be issued within the week. Please proceed step by step,” he said.
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The development came as the naira strengthened sharply to N1,390 per dollar in the black market on Monday morning, narrowing the gap between the parallel market and the official forex window to 2.5 per cent.
On February 10, 2026, the Central Bank of Nigeria (CBN) reopened access to the official foreign exchange market for licensed BDCs, a move aimed at improving dollar liquidity in the retail sector and alleviating persistent pressure in the parallel market.
In a circular dated February 10, the apex bank said all BDCs duly licensed by the regulator are now allowed to purchase foreign currency from the Nigerian Foreign Exchange Market (NFEM) through any authorized dealer bank of their choice at prevailing market rates.
As a result, the gap between the official forex market and the black market narrowed to 2.5 per cent or N35 on Monday, compared to more than 6 per cent or N92 recorded as of Wednesday last week.
