Central Bank of Nigeria (CBN) don stop sell foreign exchange (forex) to Bureau de Change

(BDC) operators again, and naira dey fall against dollar.

Before, CBN stop sell forex to BDCs in 2021, say dem dey trade forex wholesale, wey pass $5,000. But in February 2024, CBN come back, start sell forex to BDCs again, to help meet demand for invisible transactions and fix problem for retail segment of Nigeria foreign exchange market.

When CBN start sell forex to BDCs again, naira come strong, appreciate pass dollar, become best-performing currency for March and April 2024! But now, CBN don stop again, to test new reform template and stop quick fixes for FX market.

Dis move dey make naira fall against dollar, and people dey wonder wetin go happen next. BDC operators dey cry, say dem no go fit buy forex again, and dem go lose business.

CBN say dem go keep watching FX market, to make sure say naira no fall too much. But people dey fear, say dis move go affect economy, make things hard for Nigerians.