By Chioma Obinagwam
Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has refuted claims circulating in the media that it extended the recapitalisation deadline for Bureau De Change (BDC) operators to December 31, 2025.
Confiance News gathered that Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, labeled the report as false and misleading, urging the public to disregard it. She clarified that the deadline remains June 3, 2025, as previously announced.
Sidi Ali advised stakeholders, journalists, and media outlets to verify information directly from official CBN sources, such as its website or authorized channels, before sharing or publishing. The CBN reiterated its commitment to transparency, stability, and compliance in the foreign exchange market, engaging stakeholders per its mandate.
Under the February 2024 revised framework, BDCs must meet new capital requirements: ₦2 billion for Tier-1 and ₦500 million for Tier-2 operators.
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