The Central Bank of Nigeria (CBN), has granted Final Licences to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025.
This, it explained was done 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 apex bank, in a statement on Monday by its Ag. Director, Corporate Communications, Mrs Hakama Sidi Ali, stated that this notice, only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.
The statement said while the CBN would continue to update the list of Bureaux De Change with valid operating licences for public verification on its website (www.cbn.gov.ng), the general public is advised to avoid dealing with unlicensed Foreign Exchange Operators.
It noted that 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,” the statement added.
