The Central Bank of Nigeria (CBN) has decided to reopen access to the official foreign exchange market at more than 80 exchange offices (BDC) approved, a measure that could reduce the persistent gap between rates official and parallel to the naira.

In a circular signed by Musa Nakorji, director of Department of Commerce and Foreign Exchange, the CBN states that “all offices Foreign exchange agents duly authorized by the CBN are authorized to access currencies foreign nationals through any authorized trading bank of their choice, at current market rates.” This decision marks a turning point in the management of the foreign exchange market, long characterized by restrictions strict.

According to the document, each exchange office will now be able to buy up to $150,000 per week. This ceiling represents an increase. significant compared to the 40,000 dollars per week authorized under previous administration of the central bank.

By increasing the currency supply on the circuit official, the CBN seeks to improve market liquidity, to stabilize the naira and to reduce the parallel market premium. Operators hope that this measure will contribute to the restoration of confidence and to the alleviation of tensions on the Nigerian foreign exchange market