[tds_menu_login inline="yes" guest_tdicon="td-icon-profile" logout_tdicon="td-icon-log-out" tdc_css="eyJhbGwiOnsibWFyZ2luLXJpZ2h0IjoiNiIsIm1hcmdpbi1ib3R0b20iOiIwIiwibWFyZ2luLWxlZnQiOiIyNSIsImRpc3BsYXkiOiIifSwicG9ydHJhaXQiOnsibWFyZ2luLXJpZ2h0IjoiMiIsIm1hcmdpbi1sZWZ0IjoiMTYiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tcmlnaHQiOiI1IiwibWFyZ2luLWxlZnQiOiIyMCIsImRpc3BsYXkiOiIifSwibGFuZHNjYXBlX21heF93aWR0aCI6MTE0MCwibGFuZHNjYXBlX21pbl93aWR0aCI6MTAxOX0=" icon_color="#ffffff" icon_color_h="var(--dark-border)" toggle_txt_color="#ffffff" toggle_txt_color_h="var(--dark-border)" f_toggle_font_family="global-font-2_global" f_toggle_font_transform="uppercase" f_toggle_font_weight="500" f_toggle_font_size="13" f_toggle_font_line_height="1.2" f_toggle_font_spacing="0.2" ia_space="0" menu_offset_top="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIiLCJsYW5kc2NhcGUiOiIxMyJ9" menu_shadow_shadow_size="16" menu_shadow_shadow_color="rgba(10,0,0,0.16)" f_uh_font_family="global-font-1_global" f_links_font_family="global-font-1_global" f_uf_font_family="global-font-1_global" f_gh_font_family="global-font-1_global" f_btn1_font_family="global-font-1_global" f_btn2_font_family="global-font-1_global" menu_uh_color="var(--base-color-1)" menu_uh_border_color="var(--dark-border)" menu_ul_link_color="var(--base-color-1)" menu_ul_link_color_h="var(--accent-color-1)" menu_ul_sep_color="#ffffff" menu_uf_txt_color="var(--base-color-1)" menu_uf_txt_color_h="var(--accent-color-1)" menu_uf_border_color="var(--dark-border)" show_version="" icon_size="eyJhbGwiOjIwLCJwb3J0cmFpdCI6IjE4In0=" menu_gh_color="var(--base-color-1)" menu_gh_border_color="var(--dark-border)" menu_gc_btn1_color="#ffffff" menu_gc_btn1_color_h="#ffffff" menu_gc_btn1_bg_color="var(--accent-color-1)" menu_gc_btn1_bg_color_h="var(--accent-color-2)" menu_gc_btn2_color="var(--accent-color-1)" menu_gc_btn2_color_h="var(--accent-color-2)" f_btn2_font_size="13" f_btn1_font_size="13" toggle_hide="yes" toggle_horiz_align="content-horiz-center" menu_horiz_align="content-horiz-center" f_uh_font_weight="eyJsYW5kc2NhcGUiOiI3MDAiLCJhbGwiOiI3MDAifQ==" f_gh_font_weight="700" show_menu="yes" avatar_size="eyJhbGwiOiIyMiIsImxhbmRzY2FwZSI6IjIxIiwicG9ydHJhaXQiOiIxOSJ9" page_0_title="My Articles" menu_ul_sep_space="0" page_0_url="#"]

Less than 1 min.Read

BDCs face brickwall on new FX directive

By Ibrahim Modibbo MPhil. Ph.D.

February 18, 2026

Bureau De Change (BDC) operators have been unable to purchase dollars from commercial banks one week after the Central Bank of Nigeria (CBN) reopened the Nigerian Foreign Exchange Market (NFEM) to them.

Some operators attributed the development to what they described as stringent conditions contained in the circular issued by the apex bank to all BDCs and authorised dealers last week. The new guidelines, they said, have created operational bottlenecks that are slowing participation in the market.

Despite the challenges facing BDCs, the na

Bureau De Change (BDC) operators have been unable to purchase dollars from commercial banks one week after the Central Bank of Nigeria (CBN) reopened the Nigerian Foreign Exchange Market (NFEM) to them.

Some operators attributed the development to what they described as stringent conditions contained in the circular issued by the apex bank to all BDCs and authorised dealers last week. The new guidelines, they said, have created operational bottlenecks that are slowing participation in the market.

Despite the challenges facing BDCs, the na

Hot this week

Topics

Hot topics

Finance

Marketing

Politics

Strategy