The Central Bank of Nigeria (CBN) stated today that it has approved the remission of non-refundable yearly licence renewal costs for current Bureaux de Change (BDCs) in the country. The apex bank announced this in a circular to all BDC operators and financial services industry stakeholders.
The circular, signed by the Acting Director, Financial Policy and Regulations Department, CBN, John Onojah, stated: “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 the 2025 licence renewal fee, effective immediately.”
The Bank further encouraged any bureau that paid for the 2025 licence renewal to apply to the Director, Financial Policy and Regulation Department, CBN, for a refund to the account from which the payment was made.
“Any bureau de change that has paid for the 2025 licence renewal is urged to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria, for a return to the account from which the payment was made.
“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.”
