The Central Bank of Nigeria (CBN) has dismissed as false and misleading, media reports that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
The CBN, through its acting Director of the Corporate Communications, Mrs. Hakama Sidi Ali, described the information as false, misleading, stating that it should be disregarded.
She said the CBN has not granted any such extension beyond the previously communicated deadline of June 3, 2025.
The apex bank’s spokesperson, consequently urged the general public, journalists, media platforms, and all stakeholders to consistently verify information directly from official CBN sources, such as the bank’s website and authorised communication channels, before publishing or sharing news about the bank and its regulatory directives.
Read also:
- Nigeria’s economy on the rise: CBN under Cardoso records $6.83bn balance of payments surplus in 2024
- EFCC hands over 753 luxury duplexes seized from Ex-CBN Governor to Housing Ministry for public sale
- Cardoso, CBN shine at Nairametrics Capital Market Choice Awards
“The CBN remains 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.
The bank added that as part of the revised framework introduced in February 2024, BDCs are required to meet the new minimum capital requirements of ₦2 billion for tier-1 and ₦500 million for tier-2 operators.
