CBN launches FX BDC Purchase Tracker for real-time forex monitoring

CBN launched the FX BDC Purchase Tracker (FXBT) yesterday, requiring all licensed Bureau De Change operators to report foreign exchange purchases in real-time or same-day via the new centralized portal. The framework enforces the February policy allowing BDCs to buy up to $150,000 weekly from banks at market rates.

This matters if you use BDCs for forex needs - tighter monitoring aims to curb speculation and ensure allocations serve legitimate demand. BDCs now face stricter rules: no third-party deals, unused FX must be sold back within 24 hours, and banks must conduct strict KYC before onboarding operators.

Banks can't enforce exclusivity deals with BDCs anymore, and violations risk fines, market access suspension, or license revocation under BOFIA 2020. If you're a BDC operator, have you registered on FXBT? If you need forex, how might this tighter monitoring affect your access to foreign exchange?

SOURCE: https://nairametrics.com/2026/07/16/cbn-to-monitor-bdc-forex-purchases-through-new-fxbt-portal/