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From Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) has dismissed reports circulating online that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
In a statement issued by the Acting Director of the Corporate Communications Department, Mrs Hakama Ali, the central bank described the information as false and misleading, urging the public to disregard it.
Ali reiterated that the deadline for BDC recapitalisation remains as previously announced: Tuesday, June 3, 2025.
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The apex bank spokesperson stressed the importance of verifying news before dissemination, urging journalists, media platforms, and stakeholders to source information directly from official CBN channels, including the bank’s website.
“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,” Ali noted.
As part of the revised framework introduced in February 2024, BDCs are required to meet new minimum capital requirements: N2 billion for Tier-1 and N500 million for Tier-2 operators.
