By Tochukwu Bliss, Abuja
The Central Bank of Nigeria (CBN), has granted Final Licenses to 82 Bureaux De Change (BDCs) to operate in the foreign exchange (FX) market effective November 27, 2025.
This, it said in a statement by its Ag. Director, Corporate Communications, Hakama Sidi-Ali, is 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).
The statement reads further: “By this notice, only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.
“While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on our website (www.cbn.gov.ng), the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators.
“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.”
Members of the public are advised to note and be guided by the announcement on those to deal with in their FX transactions.
While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on our website (www.cbn.gov.ng), the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators.
