CBN Denies Extending June 3 Deadline for Bureau De Change Recapitalisation Amid Market Concerns
Image Credit: premiumtimesngThe Central Bank of Nigeria (CBN) has refuted reports claiming it extended the deadline for Bureau De Change (BDC) operators to meet new capital requirements from 3 June to 31 December 2025.
CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, labeled the reports as false and urged the public to rely on official channels for accurate information.
The recapitalisation policy mandates Tier-1 BDCs to raise N2 billion and Tier-2 to raise N500 million, with a deadline firmly set at 3 June 2025 to improve transparency and stability in the foreign exchange market.
The Association of Bureau De Change Operators of Nigeria (ABCON) warned of job losses if operators fail to meet these requirements, but CBN remains steadfast on its implementation.
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