Nigeria's CBN to Relaunch Currency Trade Scheme for Foreign Exchange Stability

The Central Bank of Nigeria (CBN) is set to relaunch its currency trade scheme to address the foreign exchange market's instability caused by operational bottlenecks. The scheme aims to ensure fairer access to foreign currency by structuring dollar supply channels for import and export activities.

Financial analysts warn that without deeper fiscal coordination and export expansion, the relaunch may only offer short-term relief. The move comes after the previous suspension due to challenges like round-trip speculative trading that exacerbated the volatility of the Naira.