The Central Bank of Nigeria (CBN) has denied reports that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
In a statement, the CBN’s Acting Director of Corporate Communications, Hakama Sidi Ali, described the information as false and misleading.
Sidi Ali stated that the CBN has not granted any extension beyond the previously communicated deadline of June 3, 2025.
She urged the public, journalists, and stakeholders to verify information directly from official CBN sources before publishing or sharing news about the Bank and its regulatory directives.
Sidi Ali reiterated reiterated the apex bank’s committment to ensuring transparency, stability, and compliance in the foreign exchange market.
“The Bank will continue to engage with stakeholders in accordance with its statutory mandate.” She noted.
The CBN introduced a revised framework in February 2024, requiring BDCs to meet new minimum capital requirements of ₦2 billion for tier one operators and ₦500 million for titer two operators.
The bank’s denial of the extension report aims to clarify any confusion and ensure compliance with the regulatory framework.
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