Exchange Rate Spread Tightens as Dollar Scarcity Persists at BDCs

Story: written by Springnewsng Media limited February 16,2026
The gap between the official and parallel market rates of the naira has continued to shrink, even as Bureau De Change (BDC) operators await fresh dollar allocations. Market watchers say the narrowing spread reflects calmer demand conditions, improved confidence, and expectations of renewed foreign currency supply.
Despite limited access to dollars at the retail end, traders note that reduced speculation and better liquidity management have helped steady the currency. Operators believe that once dollar inflows resume, pricing pressures could ease further and reinforce recent gains for the naira in Nigeria’s foreign exchange market.