The Central Bank of Nigeria has announced that all legacy Bureau De Change operators who failed to meet its new licensing requirements by 30 November 2025 have automatically lost their licences, effectively ceasing to operate as BDCs in the country.
This was disclosed in a Frequently Asked Questions document on the current reform of the bureau de change, published on Tuesday on the CBN website.
The PUNCH reported that the CBN confirmed on Monday that only 82 Bureaux De Change have been licensed to operate, having met its new guidelines. The development follows an extended compliance window granted by the apex bank.
Under the revised BDC Guidelines, existing operators were initially given six months, from 3 June to 3 December 2024, to satisfy the new regulatory conditions.
The CBN later granted an additional six-month extension, which elapsed on 3 June 2025, to allow more operators to align with the updated standards.
According to the document, the CBN has now enforced the final cutoff, declaring that any BDC that did not meet the requirements by the end of November is no longer recognised.
