CBN Grants Final Licences to 82 Bureaux De Change Under Revised Guidelines
Oru Leonard
Abuja, Nigeria – The Central Bank of Nigeria (CBN) has confirmed the issuance of final operating licences to 82 Bureaux De Change (BDCs), following the regulatory overhaul introduced under the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024.
In a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the apex bank said the licences take effect from November 27, 2025. The approval was granted pursuant to powers conferred on the CBN under the Banks and Other Financial Institutions Act (BOFIA) 2020.
The Bank emphasized that only BDCs listed on its official website are authorized to operate from the effective date. It also assured the public that the list of BDCs with valid licences will be continuously updated for verification.
The CBN cautioned Nigerians against transacting with unlicensed foreign exchange operators, stressing that running a BDC business without a valid licence is a punishable offence under Section 57(1) of BOFIA 2020.
The statement urged members of the public to take note of the new directive and remain vigilant when dealing in foreign exchange transactions.
