The Central Bank of Nigeria (CBN) has announced a waiver on the 2025 licence renewal fee for all Bureau De Change (BDC) operators, in line with the transition to a new regulatory framework.
The announcement was made by Jonah Onojah, the Director of the Financial Policy and Regulation Department at the CBN.
According to an official statement, the waiver takes immediate effect, and BDC operators who have already paid their renewal fees for 2025 can apply for a refund.
“Any Bureau De Change that has paid for the 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria, for a refund to its account from which the payment emanated,” the statement read.
The apex bank reaffirmed its commitment to stability, transparency, and efficiency in the foreign exchange market, ensuring that operators comply with the revised regulatory guidelines.
In May 2024, the CBN introduced new guidelines for BDC operations, requiring all operators to reapply for licences under a structured tier system. The policy aims to enhance compliance, oversight, and reposition the BDC sector.
