The Central Bank of Nigeria has extended the deadline for Bureau de Change (BDC) operators to purchase foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM) to May 30, 2025.
The CBN had in December 2024 granted BDCs temporary permission to purchase up to $25,000 weekly from the NFEM from December 19, 2024, to January 30, 2025. The initiative was designed to enable the operators to meet seasonal retail demand for FX during the festive period.
However, in a circular released on Monday, the apex extended the period of access while keeping every other aspect of the previous directive intact.