This post was originally published on this site.
CBN has unveiled a new FX framework, enhancing access to domiciliary accounts for NigeriansExporters now face stricter compliance, requiring documentation for transactions from foreign earningsThe new guidelines aim to boost FX liquidity and market transparency in Nigeria’s economy
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Central Bank of Nigeria (CBN) has unveiled sweeping changes to its foreign exchange framework, granting Nigerians greater freedom to access and use funds held in domiciliary accounts as the country’s FX market shows signs of improving liquidity.
Contained in the newly released Foreign Exchange Manual 2026, the reforms reverse several restrictions introduced during the COVID-19 era and signal a broader shift toward a more liberalised foreign exchange market.
Olayemi Cardoso-led CBN revises rules on domiciliary accounts, gives owners more access. Credit: CBNSource: Twitter
The move is expected to boost confidence among individual savers, diaspora investors and businesses
