The Central Bank of Nigeria (CBN) has extended the deadline for Bureau De Change (BDC) operators to meet new recapitalisation requirements to December 31, 2025.
The extension was revealed in a group chat among BDC operators, following the lapse of the earlier June 3, 2025, deadline.
This marks the second time the apex bank is adjusting the timeline for compliance since the introduction of the revised capital requirements in February 2024. Initially, the CBN had fixed December 3, 2024, as the compliance deadline, before shifting it by six months to June 2025.
The latest extension comes amid concerns over low compliance levels within the sector. Aminu Gwadabe, President of the Association of Bureaux De Change Operators of Nigeria (ABCON), had earlier raised the alarm that most BDC operators were struggling to meet the new capital thresholds set by the CBN.
Under the revised recapitalisation framework, the apex bank introduced a two-tier structure to regulate BDC operations more effectively. Tier-1 BDCs are required to raise a minimum capital base of N2 billion to operate nationally and offer broader financial services.
