The Central Bank of Nigeria (CBN) has refuted circulating reports claiming that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
In a statement issued on Wednesday, the Bank, through its Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, described the report as false and misleading, urging the public to disregard it.
According to Sidi Ali, the CBN has not revised the previously announced deadline of June 3, 2025, for compliance with the new capital requirements.
“The Central Bank of Nigeria has not granted any extension to the recapitalisation deadline for BDC operators beyond the date earlier communicated,” she said.
She further advised journalists, media platforms, and the general public to verify all information regarding the Bank’s policies and directives through official CBN channels, such as its website and verified communication outlets.
“The public is urged to rely solely on information published through the CBN’s authorised platforms. The Bank remains committed to transparency, financial stability, and regulatory compliance in the foreign exchange market,” she added.
The CBN had earlier, in February 2024, introduced a revised regulatory framework for BDC operations. Under the new guidelines, BDCs are required to meet new minimum capital thresholds: ₦2 billion for Tier-1 operators and ₦500 million for Tier-2 operators.
The recapitalisation initiative is part of broader efforts by the CBN to strengthen the foreign exchange market and enhance financial system stability.
