Finance
CBN confirms 82 BDCs fully licensed under revised guidelines
Central bank of Nigeria said it has granted final operating licenses to 82 Bureaux De Change (BDCs) to operate with effect from November 27,
2025.
The apex in a statement signed by Ag. Director Corporate Communication, Hakama Sidi Ali said the CBN gave the approval to the BDCs 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).
“ 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 (www.cbn.gov.ng), the Bank advises the
general public to avoid dealing with unlicensed Foreign Exchange Operators.
“For the avoidance of doubt, operating a Bureau De Change business without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020. Members of the public are hereby advised to note and be guided accordingly”.
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