The Central Bank of Nigeria (CBN) has urged Nigerians to disregard misleading reports that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi Ali, described the information as false and misleading.
Emphasising that it has not granted any such extension beyond the previously communicated deadline of June 3, 2025, the apex bank urged the general public, journalists, media platforms, and all stakeholders to consistently verify information directly from its official sources, including its website and authorised communication channels, “before publishing or sharing news about the Bank and its regulatory directives”.
“The CBN remain committed to ensuring transparency, stability, and compliance in the foreign exchange market, and will continue to engage with all relevant stakeholders in accordance with its statutory mandate”, Sidi Ali noted.
As part of the revised framework introduced in February 2024, BDCs are required to meet new minimum capital requirements: 2 billion for Tier-1 and 500 million for Tier-2 operators.
