The Central Bank of Nigeria (CBN) has denied reports that it extended the deadline for Bureau De Change (BDC) operators to meet new recapitalization requirements to December 31, 2025.
The CBN, through its Acting Director of the Corporate Communications Department, Mrs Hakama Ali, described the information as false, and misleading, and stated that it should be disregarded.
According to Ali, the deadline remains June 3, 2025, as previously announced.
She consequently urged the general public, journalists, media platforms, and all stakeholders to consistently verify the 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,” she said.
She also said as part of the revised framework introduced in February 2024, BDCs were required to meet new minimum capital requirements N2 billion for tier-one and N500 million for tier-two operators.
