The Central Bank of Nigeria (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.
Confirming the development in a statement issued in Abuja on Monday, Hakama Sidi Ali Ag. Director, Corporate Communications said by this notice, only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.
She added that 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 general public is advised 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,” she stated.
The Acting Director advised members of the public to note and be guided accordingly.
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