The Central Bank of Nigeria (CBN) has approved the 2025 licence renewal fee waiver for the Bureau De Change (BDC) operators.
This was contained in a circular signed by the CBN’s acting Director, Financial Policy and Regulation Department, John Onojah.
He said the waiver is in furtherance to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure.
Onojah advised BDC operators that had already paid the 2025 licence renewal fee to apply for a refund to its account from which the payment emanated.
“This is to inform all existing bureaux de change that further to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure, the Central Bank of Nigeria (CBN) has approved the waiver of 2025 licence renewal fee, effective immediately.
“Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria for refund to its account from which the payment emanated.
“The CBN remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework,” the circular read.
The CBN reiterated its commitment to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework.
In May 2024, the CBN issued new approved guidelines to regulate the activities of BDC operators in the country.
