The Central Bank of Nigeria (CBN) has refuted claims of extending the recapitalization deadline for Bureau De Change (BDC) operators to December 31, 2025, confirming it remains June 3, 2025.
In a statement, the CBN dismissed circulating reports as misleading, urging stakeholders to rely on official channels for updates.
The new rules, set in February 2024, mandate BDCs to raise capital to N2 billion for Tier-1 and N500 million for Tier-2 operators.
The CBN stressed its focus on stabilizing the foreign exchange market and ensuring compliance with the regulatory framework.
