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The disclosure was made in a statement issued on Monday by the Bank’s spokesperson, Hakama Sidi Ali.
The Central Bank of Nigeria (CBN) has confirmed that only 82 Bureau De Change (BDC) operators currently have valid licenses to operate in the country.
The disclosure was made in a statement issued on Monday by the Bank’s spokesperson, Hakama Sidi Ali.
According to the apex bank, the approvals were granted in line with its powers under the Bank and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Regulatory and Supervisory Guidelines for Bureaux De Change Operations.
The CBN said the final licenses became effective on November 27, 2025, warning that any individual or company operating a BDC without a valid license is in violation of Section 57 of BOFIA 2020. “By this notice, only Bureaux De Change listed on the Bank’s website are authorized to operate from the effective date,” the statement said.
While noting that the list of licensed operators will be updated regularly on its website, the CBN urged the public to avoid dealing with unlicensed foreign exchange dealers. “For the avoidance of doubt, operating a Bureau De Change business without a valid license is a punishable offense under Section 57(1) of BOFIA 2020. Members of the public are hereby advised to note and be guided accordingly,” the Bank added.
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