Yemisi Izuora
The Central Bank of Nigeria (CBN), has granted Final Licenses to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025.
This is in exercise of its powers conferred under the Bank and Other Financial Institutions Act (BOFIA) 2020, and the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024.
While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on its website (www.cbn.gov.ng), the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators.
CBN warned, “For the avoidance of doubt, operating a Bureau De Change business without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
“Members of the public are hereby advised to note and be guided accordingly.”