CBN grants final operation licenses to 82 BDCs
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Warns public against dealing with unlicensed forex operators
By Elizabeth Adegbesan
The Central Bank of Nigeria, CBN, yesterday, said it has granted 82 Bureau De Changes (BDCs) final licenses to operate in the foreign exchange market.
Disclosing this in a statement signed by its Acting Director Corporate Communication, Dr. Sidi-Ali Hakama, the apex bank warned the public against dealing with unlicensed foreign exchange operators.
The statement said, “The CBN, in exercise of its powers conferred under the Bank and Other Financial Institutions Act (BOFIA) 2020, and the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024 (the Guidelines), has granted final licenses to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025.
“By this notice, only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.
“While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on our website, the Bank advises the general public to avoid dealing with unlicensed foreign exchange operators”.
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