The Central Bank of Nigeria (CBN) has directed Bureau de Change (BDC) operators to sell any unused foreign exchange in their possession within 24 hours. The new directive is aimed at improving transparency and stability in the foreign exchange market.
According to the CBN, the move is part of ongoing efforts to ensure that foreign currency is properly circulated and made available to those who need it. Operators are expected to comply with the new instruction immediately.
The directive comes as the apex bank continues to introduce policies aimed at strengthening the naira and improving confidence in Nigeria’s foreign exchange market.
Many Nigerians will be watching to see how the new policy affects the availability and exchange rate of foreign currencies in the coming days.