The Central Bank of Nigeria may have earned at least N192m in non-refundable fees from the 82 Bureau De Change operators who have just secured final licences under the revised regulatory framework, according to reports.
The amount is based on the fee schedule in the May 2024 Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria and the list of approved operators released by the Bank on December 8, 2025.
In a recent press statement, the CBN announced that it had granted final licences to 82 BDCs, effective November 27, 2025. “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 statement read.
The list shows that two of the firms are Tier 1 operators, while the remaining 80 are Tier 2. The tier assigned to each operator determines the amount it must pay as application and licence fees in addition to its minimum capital requirement.