The Central Bank of Nigeria has unveiled the fourth edition of its Foreign Exchange Manual as part of efforts to strengthen transparency, compliance and confidence in the nation’s foreign exchange market.
The revised guidelines, which will take effect from June first twenty twenty-six, are expected to provide a clearer framework for foreign exchange transactions and market operations.
Speaking at the launch in Abuja, Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the review reflects the apex bank’s commitment to building a more transparent and forward-looking foreign exchange system in line with global economic realities.
He described foreign exchange as a critical driver of economic activities, stressing that regulatory systems must continue to evolve to meet changing global trends.
According to the CBN Governor, the revised manual will serve as a practical guide for authorised dealers, investors, authorised buyers and members of the public involved in foreign exchange transactions.
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The apex bank says the new framework is designed to promote order, consistency and accountability in the inflow and outflow of foreign exchange, while also strengthening documentation and reporting standards.
The manual is also expected to support Nigeria’s economic priorities by ensuring that foreign exchange is channelled toward productive sectors of the economy.
The CBN adds that the revised guidelines introduce clearer penalties for infractions and market abuses, measures aimed at boosting investor confidence, discouraging capital flight and protecting the country’s external reserves.
The new Foreign Exchange Manual replaces the previous edition last reviewed in twenty eighteen and will be made available free of charge to authorised dealers.
The apex bank says the revised framework is part of ongoing reforms aimed at deepening stability and restoring confidence in Nigeria’s foreign exchange market.
Editor: Roluke Ogundele
