The Central Bank of Nigeria (CBN) has waived the 2025
licence renewal fee for all bureaux de change (BDC) operators.
On Friday, Jonah Onojah, the director of the financial
policy and regulation department, announced that the waiver took immediate
effect.
“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 statement reads.
“Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria 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.”
On May 22, 2024, CBN approved new guidelines for BDC
operations to improve compliance and oversight.
In the guideline, CBN said all existing BDCs are to re-apply
for a new licence according to any of the tiers or licence categories of their
choice.
CBN said the guidelines are part of its efforts to
re-position the BDC market to play its envisioned role in the foreign exchange
market in Nigeria.
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