Yes, the Nigerian federal government recently announced a nine-month grace period for citizens to deposit U.S. dollars without penalties. This move is part of an effort to encourage people to bring their foreign currency into the formal banking system, potentially aiming to stabilize the naira and increase foreign reserves. During this period, no questions will be asked about the source of the dollars deposited, creating an opportunity for individuals and businesses holding foreign currency informally to legitimize their assets.

This policy is part of broader economic measures to address challenges in the currency market and reduce dollar scarcity in Nigeria.