The Central Bank of Nigeria has unveiled the fourth edition of its Foreign Exchange Manual as part of ongoing efforts to improve transparency, strengthen governance and enhance confidence in Nigeria’s foreign exchange market. Speaking at the unveiling, the Governor of the CBN, Olayemi Cardoso, said the revised FX Manual will……
The Central Bank of Nigeria has unveiled the fourth edition of its Foreign Exchange Manual as part of ongoing efforts to improve transparency, strengthen governance and enhance confidence in Nigeria’s foreign exchange market.
Speaking at the unveiling, the Governor of the CBN, Olayemi Cardoso, said the revised FX Manual will take effect from June 1, 2026, and will be distributed free of charge to authorised dealers to support compliance and seamless implementation.
According to Cardoso, the updated manual aligns with international best practices and reflects the apex bank’s commitment to modernising Nigeria’s foreign exchange administration for greater clarity, consistency and market efficiency.
He said, “The launch of the 4th Edition of the CBN Foreign Exchange Manual reflects our collective commitment to strengthening Nigeria’s macroeconomic foundations, enhancing transparency, and reinforcing confidence in the foreign exchange market.”
The CBN governor maintained that the FX Manual aligns with international best practices and reflects the bank’s commitment to modernising Nigeria’s foreign exchange administration for greater clarity, consistency and market efficiency.
Cardoso also urged public- and private-sector stakeholders to demonstrate commitment and professionalism to ensure the effective implementation of the revised FX Manual.
He assured that the CBN remains committed to providing guidance, support and clarity as Nigeria enters a new phase of foreign exchange governance.
“Strong monitoring frameworks built on consistency, fairness and accountability are critical to maintaining the credibility and stability of Nigeria’s foreign exchange market,” he added.
Stakeholders have lauded the CBN for an extensive consultative process and rigorous technical review involving banks, corporates and other market participants, culminating in the revised FX Manual.
