82 BDCs Fully Licensed Under Revised Guidelines — CBN

The Central Bank of Nigeria (CBN) has confirmed the issuance of final operating licences to 82 Bureaux De Change (BDCs) under the Revised Regulatory and Supervisory Guidelines for BDC Operations 2024. The licences took effect on November 27, 2025.

In a statement issued on Monday night on its verified X handle and signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the apex bank said the approvals were granted in line with its powers under the Banks and Other Financial Institutions Act (BOFIA) 2020. It added that only the BDCs listed on its official website are authorised to operate from the effective date.

The CBN noted that it will continue to update the list of fully licensed BDCs on its website to enable members of the public to verify the status of operators before engaging in forex transactions.

“The Bank advises the general public to avoid dealing with unlicensed foreign exchange operators,” the statement read. “Operating a Bureau De Change business without a valid licence is a punishable offence under Section 57(1) of BOFIA 2020.”

The apex bank urged Nigerians to conduct due diligence when transacting in the foreign exchange market and report any suspected illegal operators to the appropriate authorities.