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Daniel Adaji
The Central Bank of Nigeria has confirmed that 82 Bureaux De Change operators now hold final licences under its revised regulatory framework.
This tightens oversight of the foreign exchange market and warning the public against dealing with unapproved operators.
The Bank said the fully licensed BDCs can operate from November 27, 2025, following approvals granted “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 (the Guidelines).”
According to a statement by the apex bank, only the BDCs published on its website are authorised to do business from the effective date.
It added that it will keep updating the list to help Nigerians verify which operators are legitimate. As the statement put it, “only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.”
The CBN also noted that it will “continue to update the list of Bureaux De Change with valid operating licences for public verification on our website (www.cbn.gov.ng),” and urged Nigerians to avoid unlicensed players in the forex space.
The regulator issued a firm reminder that running a BDC without a valid licence remains a criminal offence. It stressed that “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.”
It then called on the public to pay attention to the updated list and follow the guidance provided. “Members of the public are hereby advised to note and be guided accordingly,” the statement added.