The Central Bank of Nigeria, (CBN), yesterday announced that it has approved the waiver of non refundable annual license renewal fees for existing Bureaux-De-Change (BDCs) in the country.
The apex bank disclosed this in a circular to all BDC operators and stakeholders in the financial services industry.
The circular, signed by the Bank’s Acting Director, Financial Policy and Regulations Department, John Onojah, stated: “This is to inform all existing bureaux-de-change that, further to the Regulatory and Supervisory Guidelines for Bureau-De-Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure, the Central Bank of Nigeria (CBN) has approved the waiver of 2025 licence renewal fee, effective immediately”.
The Bank also advised any BDC operator that has paid for 2025 licence renewal to apply to the Director, Financial Policy and Regulation Department, CBN, for refund to its account from which the payment emanated.
“The CBN remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework”, it stated.
