The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has unveiled the fourth edition of the CBN Foreign Exchange Manual, a move the bank says will strengthen transparency, consistency and efficiency in Nigeria’s foreign exchange market.
The revised manual, which takes effect on June 1, 2026, has been updated to align with international best practices and to reflect the CBN’s drive to modernise FX administration, reinforce market confidence and buttress the country’s macroeconomic foundations.
Developed following extensive consultations with stakeholders and a rigorous technical review, the manual will be provided free of charge to authorised dealers to aid smooth implementation and compliance, the bank said.
Governor Cardoso underlined the need for professionalism, accountability and fairness in the FX market, and stressed the importance of robust monitoring frameworks to sustain credibility and stability.
The new edition is expected to provide clearer operational guidance for market participants and to support the CBN’s ongoing efforts to strengthen market functioning and policy effectiveness.
