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CBN revokes licences of 236 Bureau de Change Operators

The Central Bank of Nigeria has revoked the operating licences of 236 Bureau de Change (BDCs) operators, for not meeting the mandatory deposits despite warnings … Continue reading CBN revokes licences of 236 Bureau de Change Operators


The Central Bank of Nigeria has revoked the operating licences of 236 Bureau de Change (BDCs) operators, for not meeting the mandatory deposits despite warnings from the apex bank.

The list of the affected BDCs has been published on the central bank’s website and distributed to appropriate quarters.

All authorised dealers and the general public are advised that any foreign exchange transactions, including sale to and purchases from these BDCS as well as transfer of funds through or on behalf of the affected BDCS is illegal.