Financial analysts in Nigeria say the central bank's attempts to stabilise the currency may deter future foreign investment.
For two days in a row the Central Bank of Nigeria (CBN) restricted sales of dollars to companies who could prove they had a transaction requiring them.
The move is intended to squeeze out currency speculators and halt the slump in the value of the naira.
The naira has lost 20% of its value against the dollar in recent months.
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'Possible risk'
"There's a lot of nervousness among investors about these measures," Matthew Green of the Financial Times told the BBC's Network Africa.
For now there is still a free flow of investment, he said.
"It's the very idea that sometime in the future there's a possible risk investors won't be able to get their money out."
A lot of foreign investment has already left Nigeria over the last year.
"The question is will Nigeria be the kind of place they want to come back to?" said Mr Green.
The man in the street
Nigeria's economy is heavily based on imports.
The drop in the Naira's value means imports are more expensive.
An attempt to slow this cost of living increase may mean that foreign exchange controls are popular with Nigerians, despite the effect on foreign investment.
But currency dealers are trying to lobby the governor of the central bank to prevent further controls being placed on foreign exchange trading, Reuters news agency reports.
(BBC)
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