The Central Bank of Nigeria has introduced the fourth edition of its Foreign Exchange Handbook as part of efforts aimed at improving openness, reinforcing regulatory discipline, and boosting trust in the country’s currency exchange system.
At the official presentation, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced that the updated guide will become operational on June 1, 2026, and will be issued at no cost to licensed dealers to ensure smooth adherence and effective rollout.
He explained that the revised framework is consistent with global standards and demonstrates the apex bank’s drive to upgrade Nigeria’s currency exchange operations for improved clarity, uniformity, and operational efficiency.
Cardoso stated: “The introduction of the 4th Edition of the CBN Foreign Exchange Manual reflects our shared determination to strengthen Nigeria’s economic foundations, deepen openness, and restore confidence in the foreign exchange system.”
He further noted that the refreshed guide is designed to support a more structured, rules-based, and efficient FX environment that promotes predictability and better market functioning.
The CBN governor called on stakeholders across both the public and private sectors to show discipline, cooperation, and professionalism in ensuring the successful adoption of the new framework.
He reaffirmed that the Central Bank will continue to provide direction, support, and clarification as the country transitions into a more structured phase of foreign exchange administration.
According to him, “Robust oversight systems anchored on consistency, fairness, and accountability are essential to sustaining trust and stability in the foreign exchange market.”
Market participants have commended the apex bank for its broad consultation process and detailed technical review involving financial institutions, corporate operators, and other stakeholders, which informed the development of the revised manual.
