The Central Bank of Nigeria (CBN) plans to roll out a revised Forex manual in early 2026, aiming to strengthen the naira, reduce market volatility, and boost investor confidence. The revamp is part of broader reforms to streamline FX operations and align regulations with current economic realities, Deputy Governor Dr. Muhammad Sani Abdullahi said.
The announcement coincided with Nigerian Exchange Limited (NGX) reporting a record N11.9 trillion in total stock market transactions for 2025, the highest since 2007. Domestic investors contributed N9.27 trillion, while foreign investors’ transactions surged to N2.65 trillion, marking a 210% increase from 2024. Analysts credited the growth to CBN’s FX reforms, rising foreign portfolio inflows, resilient corporate earnings, and ongoing economic reforms.
The CBN’s revamped manual is expected to introduce clearer rules, stronger oversight, and improved processes to enhance transparency and stability in Nigeria’s FX market. Experts believe the reforms will sustain the stock market rally, attract more foreign investment, and support overall economic growth.
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