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ONLY 82 BDCs LICENSED TO OPERATE AS CBN WARNS PUBLIC AGAINST ILLEGAL FOREIGN EXCHANGE DEALERS

By nigeriaglobaltrend

December 9, 2025

The Central Bank of Nigeria has issued final operating licenses to only 82 Bureaux De Change under its revised regulatory framework, authorizing them to operate from November 27, 2025.

In a statement, Ag. Director, Corporate Communications, Hakama Sidi Ali, confirmed the CBN exercised its powers under the Bank and Other Financial Institutions Act 2020 and the new 2024 BDC guidelines to grant the approvals. Sidi Ali stated that only the BDCs listed on the bank’s website are authorized to operate.

The CBN will continue to update the list of license holders for public verification, but Sidi Ali strongly advised the general public to avoid dealing with unlicensed foreign exchange operators. She emphasized that operating a BDC without a valid licence is a punishable offence under SectioThe statement was issued on December 8, 2025, by Hakama Sidi Ali.

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