Nigerian Forex Traders Struggle as CBN Cuts Off Dollar Supply

The Central Bank of Nigeria's decision to halt dollar allocations to Bureau de Change operators has left traders struggling to survive due to reduced income levels, compliance costs, and operational challenges. While the CBN aims to enhance liquidity in the forex market, the suspension of forex sales to licensed currency traders has further complicated the situation.

Despite efforts to improve market stability, the lack of intervention has affected the operations of Bureau de Change operators, prompting calls for increased engagement with the apex bank.