CBN Maintains June 3 Deadline for BDC Recapitalisation
Oru Leonard
CBN Debunks Report on BDC Recapitalisation Deadline Extension
The Central Bank of Nigeria (CBN) has denied extending the deadline for Bureau De Change (BDC) operators to meet new recapitalisation requirements, stating that the June 3, 2025 deadline remains in effect.
The CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, described reports of a December 31, 2025 extension as “false and misleading”.
The CBN urged the public, journalists, and stakeholders to verify information through official channels, such as the Bank’s website, before publishing or sharing news.
BDC operators are required to meet new minimum capital requirements of Tier 1: ₦2 billion and Tier 2: ₦500 million
The apex Bank remains committed to ensuring transparency, stability, and compliance in the foreign exchange market.
The CBN introduced revised guidelines for BDCs in February 2024, which included increased capital requirements. The Association of Bureau De Change Operators of Nigeria (ABCON), had raised concerns about the feasibility of meeting the new requirements, with only about 10% of members reportedly meeting the threshold.
