A policy that says more than it first appears
The Central Bank of Nigeria’s latest directive to international money transfer operators looks, at first glance, like a narrow operational tweak. It is not. By requiring IMTOs to open naira settlement accounts with authorised dealer banks, route remittance-related transactions strictly through those accounts, and use Bloomberg BMatch as a pricing guide, the CBN is making a larger statement about the future of Nigeria’s foreign-exchange market. The immediate goal is straightforwar
