CBN Launches New Forex Manual to Enhance Market Liquidity

The Central Bank of Nigeria (CBN) unveiled the fourth edition of its foreign exchange manual on Friday, aimed at boosting market liquidity and transparency. The launch, led by CBN Governor Mr. Olayemi Cardoso in Abuja, reflects the apex bank's commitment to strengthening Nigeria's macroeconomic foundation and modernizing its foreign exchange administration.

The revised manual, effective June 1, 2026, was deemed necessary due to evolving global economic conditions and ongoing structural adjustments in Nigeria's economy. It includes extensive consultations and a rigorous technical review to align with international best practices.

Key changes in the manual involve harmonizing disbursement structures for personal and business travel allowances, introducing provisions for service export transactions, and allowing payments for foreign currency tuition fees. Dr. Muhammad Abdullahi, Deputy Governor of Economic Policy at CBN, emphasized that the successful implementation of the revised framework relies on cooperation among authorized dealers, banks, and regulatory agencies.