By NIyi JACOBS
The Central Bank of Nigeria (CBN) has dismissed reports claiming it has extended the deadline for Bureau De Change (BDC) operators to meet new capital requirements to December 31, 2025.
In a statement issued on Monday, the Acting Director of the Bank’s Corporate Communications Department, Mrs. Hakama Sidi Ali, described the circulating report as false and misleading, urging the public to disregard it.
“The CBN has not granted any extension beyond the June 3, 2025 deadline previously communicated,” she said.
Mrs. Sidi Ali advised journalists, media outlets, and the general public to verify any information regarding regulatory directives directly from the CBN’s official website or authorised communication channels before publishing or sharing.
She reaffirmed the Bank’s commitment to transparency, market stability, and regulatory compliance in the foreign exchange space. “The CBN will continue to engage with all relevant stakeholders in line with its statutory responsibilities,” she added.
Under the revised regulatory framework introduced in February 2024, Tier-1 BDC operators are required to recapitalise to a minimum of ₦2 billion, while Tier-2 operators must meet a ₦500 million threshold.
