The Central Bank of Nigeria (CBN) has announced an immediate waiver of the 2025 licence renewal fee for all bureau de change (BDC) operators.
Jonah Onojah, Director of the Financial Policy and Regulation Department, confirmed the waiver on Friday, stating it aligns with the ongoing transition to the new regulatory framework for BDC operations introduced in 2024.
Operators who have already paid the renewal fee are advised to request a refund from the CBN.
The CBN reaffirmed its commitment to fostering stability, transparency, and efficiency in the foreign exchange market, urging operators to comply with the revised regulations.
In May 2024, the CBN introduced new guidelines requiring all existing BDCs to reapply for a licence under specified tiers or categories to reposition the market for greater oversight and compliance.
