The Central Bank of Nigeria (CBN) has issued final operating licences to 82 Bureaux De Change (BDCs) under its revised regulatory framework, cautioning Nigerians against transacting with unlicensed foreign exchange dealers.
In a statement released Monday, Acting Director of Corporate Communications, Hakama Sidi-Ali, said: “The Central Bank of Nigeria, in exercise of its powers under the Banks and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Guidelines, has granted final licences to 82 Bureaux De Change to operate with effect from November 27, 2025.”
The apex bank stressed that only BDCs listed on its official website are recognized as licensed operators. “While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on our website, the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators,” the statement warned.
The bank further noted that operating a BDC without a valid licence is punishable under Section 57(1) of BOFIA 2020. “The Bank will not hesitate to take legal action against illegal operators,” it added.