CBN grants licences to 82 BDCs
[NigerianEye - Nigeria] - 9/12/2025
The Central Bank of Nigeria (CBN) has granted licences to 82 bureau de change (BDCs) to operate under its revised guidelines from November 27, 2025. On May 22, 2024, CBN issued regulatory guidelines for bureau de change operations after consultation with stakeholders and directed existing BDCs to reapply for a new licence. In a circular on Monday, the apex bank also said that only BDCs listed on the website are authorised to operate from the aforementioned date. CBN warned that operating a BDC business without a valid licence is a punishable offence under section 57(1) of the Banks and (…)
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