Central Bank of Nigeria (CBN) has released new operational rules on how licensed Bureau de Change (BDC) operators can acquire foreign exchange from the market.

In a circular signed by Aderinola Shonekan, the CBN’s Director of Trade and Exchange Department, and datedJuly 15, 2026, the regulatory bank provided guidelines on how BDCs should access foreign exchange (forex) through authorised dealer banks and set out procedures to ensure smooth operations across the retail forex segment.

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According to the CBN, the fresh guidelines are designed to boost transparency, efficiency and orderly trading in the Nigerian Foreign Exchange Market.

“All authorized dealer banks and licensed BDCs are required to familiarise themselves with and comply strictly with the attached regulatory guidance and modalities with immediate effect,” the bank stated in its notice.

To support implementation, the CBN launched an electronic portal that will allow BDC operators and authorised dealer banks to interact more easily through the NFEM platform.

The development is sequel to a February 10, 2026 circular that first permitted BDCs to purchase forex directly from the market via dealer banks of their choosing.

“Violations of the provisions of the circular and the attached guidance shall attract appropriate regulatory sanctions,” it warned.

CBN further stated the fresh regulatory framework aims to prevent the chaotic trading patterns that had previously marked the BDC segment, adding that BDC operators now have clear rules on sourcing forex, pricing mechanisms and reporting requirements.

“The electronic portal removes friction from transactions and creates a paper trail the regulator can monitor.

“Compliance deadlines are immediate, meaning all licensed operators must align their operations with the new rules right away or face potential penalties ranging from fines to suspension of their licences,” the notice stated.