The Central Bank of Nigeria has approved that licensed Bureau De Change operators can purchase up to $150,000 in foreign exchange weekly from authorised dealer banks, according to a circular signed by the apex bank’s Trade and Exchange Department.

The circular, dated February 10, 2026, was signed by Dr. Musa Nakorji, Director of the Trade and Exchange Department, and addresses authorised dealer banks and the general public.

The policy allows Bureau De Change operators to participate in the Nigerian Foreign Exchange Market.

The circular states that all Bureau De Change operators duly licensed by the Central Bank of Nigeria are permitted to access foreign exchange from the Nigerian Foreign Exchange Market through any authorised dealer bank of their choice at prevailing exchange rates.

Under the directive, foreign exchange may be sold to licensed Bureau De Change operators in line with existing operational guidelines. However, each operator’s purchase is capped at a maximum of USD150,000 per week.

The Central Bank said authorised dealer banks must complete full Know‑Your‑Customer and due diligence checks on Bureau De Change clients before selling foreign exchange to them.

The apex bank also directed that all licensed Bureau De Change operators must submit accurate electronic returns in a timely manner in accordance with existing regulations.

To prevent hoarding and speculative positions, the Central Bank stated that Bureau De Change operators must not retain unutilised foreign exchange purchased from the market and that any unused foreign exchange should be sold back within 24 hours.

All foreign exchange transactions under the policy must be settled through accounts with licensed financial institutions. The Central Bank said third‑party transactions are prohibited, and cash settlement is capped at 25 percent of the total transaction amount.