By Olusegun Obisanya
Nigeria’s apex bank regulator, Central Bank of Nigeria (CBN) has refuted report making round suggesting that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
The CBN Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, described the information as false and the misleading misleading report should be disregarded.
She stated that the apex Bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025.
According to her, the general public, 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.
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.
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.
