CBN grant BDCs temporary access to NFEM

The Central Bank of Nigeria (CBN) has granted BDCs temporary access to Nigerian Foreign Exchange Market (NFEM) from December 19, 2024, to January 30, 2025, with a weekly cap of $25,000.

Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN)

According to CBN: “The Central Bank of Nigeria (CBN) grants BDCs temporary access to the NFEM from December 19, 2024, to January 30, 2025, with a weekly cap of $25,000. Transactions require upfront funding at prevailing rates and must follow a maximum of 1% spread.


“CBN says PTA/BTA remain available at banks for personal & business travel needs. It insists that all legitimate FX transactions occur in the NFEM at market-determined rates.”

Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN)

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