Regulatory Alerts2025-02-03 | TED/FEM/PUB/FPC/001/003SALES OF FOREIGN EXCHANGE TO BDCs TO MEET RETAIL MARKET DEMAND FOR ELIGIBLE INVISIBLE TRANSACTIONS
The Trade and Exchange Department has extended the expiration date for BDCs to purchase FX from Authorized Dealers, with a weekly cap of USD 25,000.00, from January 31, 2025, to May 30, 2025. The CBN remains dedicated to a well-functioning foreign exchange market and will continue to provide liquidity to manage price volatility. All other terms and conditions from the previous circular remain unchanged.
TRADE AND EXCHANGE DEPARTMENT 09 46237831 09 46237804 E-mail address: ted@cbn.gov.ng TED/FEM/PUB/FPC/001/003 February 3, 2025 TO: ALL BUREAU DE CHANGE OPERATORS AND THE GENERAL PUBLIC SALES OF FOREIGN EXCHANGE TO BDCs TO MEET RETAIL MARKET DEMAND FOR ELIGIBLE INVISIBLE TRANSACTIONS We refer to our circular TED/FEM/PUB/FPC/001/030 dated December 19 2024, which granted temporary access to existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00.
The expiry date of January 31 2025 which was granted in the above mentioned circular has been extended to May 30 2025.
Ail other terms and conditions in the above mentioned circular remain unchanged The CBN remains committed to a fully functional foreign exchange market and will continue to provide liquidity when necessary to manage price volatility.
Please be guided accordingly.
TRADE & EXCHANGE DEPARTMENT . : - -