Financial market analysts have expressed optimism about the naira's future as the Central Bank of Nigeria (CBN) has introduced a new limit allowing licensed Bureau de Change (BDC) operators to buy up to $150,000 weekly. This decision, communicated in a circular by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, aims to improve the liquidity of foreign exchange in the retail segment and address the legitimate needs of end users.

Experts expect this measure to positively influence the naira's value against the United States dollar. Tunde Amolegbe, CEO of Arthur Stevens Asset Management, highlighted that the increase in forex availability could lead to a strengthened naira, which would benefit companies that rely heavily on foreign currency for their inputs, especially in sectors like consumer goods and industrial manufacturing. This potential appreciation of the naira is seen as a necessary move to stabilize Nigeria's economy amidst ongoing challenges in the forex market.

The implications of this policy change could reverberate throughout the Nigerian economy, providing much-needed relief for businesses that face increased costs due to foreign exchange fluctuations. Analysts believe that as the naira strengthens, consumer spending may also increase, thereby enhancing economic activity. If the CBN's strategy successfully improves market dynamics, it could mark a significant turning point in Nigeria's ongoing effort to manage its currency and foreign exchange stability.