By Deborah Nnamdi
The Central Bank of Nigeria, CBN, today announced that it has approved the waiver of non-refundable annual license renewal fees for existing Bureaux De Change (BDCs) in the country.
The Apex Bank disclosed this in a circular to all BDC operators and stakeholders in the financial services industry.
The circular signed by the Acting Director of, the 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 2025 license renewal fee, effective immediately.
“Any bureau de change that has paid for 2025 license renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria, for the refund to its account from which the payment emanated.
“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.”
