By Tochukwu Bliss, Abuja
The Central Bank of Nigeria (CBN), today, said it has not granted any extension of deadline for the recapitalisation of Bureau De Change (BDC) operators, which ended on June 3.
The rebuttal comes amid a news story in circulation suggesting that the Bank has extended the deadline for the recapitalisation of BD) operators to December 31, 2025.
Debunking the story, the CBN, through its Acting Director, Corporate Communications Department, Mrs. Hakama Sidi-Ali, in a statement made available to Sustainable Economy Nigeria, described the information as false, misleading, and should be disregarded.
According to her, the Bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025.
She consequently urged the general public, journalists, media platforms, and all stakeholders to consistently verify information directly from official CBN sources, such as the Bank’s website, and authorised communication channels, before publishing or sharing news about the Bank and its regulatory directives.
“The CBN remains committed to ensuring transparency, stability, and compliance in the foreign exchange market and will continue to engage with all relevant stakeholders in accordance with its statutory mandate,” Sidi-Ali added.
As part of the revised framework introduced in February 2024, BDCs are required to meet new minimum capital requirements: ₦2 billion for Tier-1 and ₦500 million for Tier-2 operators.
The CBN remains committed to ensuring transparency, stability, and compliance in the foreign exchange market and will continue to engage with all relevant stakeholders in accordance with its statutory mandate.
