Nigeria, July 17 -- The Central Bank of Nigeria (CBN) has issued detailed operational guidelines for Bureau De Change (BDC) operators to purchase foreign exchange from authorised dealer banks through the Nigerian Foreign Exchange Market (NFEM).

The framework introduces an electronic tracking portal and compliance requirements to improve transparency, efficiency, and liquidity in the retail foreign exchange market.

In a circular addressed to authorised dealer banks and licensed BDC operators on Thursday, the apex bank said the guidance follows its 10 February circular, which granted BDCs access to foreign exchange from the NFEM through authorised dealer banks of their choice.

According to CBN, the new framework provides the regulatory g...