CBN Waives BDC Licence Renewal Fee

The Central Bank of Nigeria (CBN) has approved the 2025 licence renewal fee waiver for the Bureau De Change (BDC) operators with immediate effect.

This is in furtherance to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure.

This disclosure is contained in a circular signed by the CBN’s Acting Director Financial Policy and Regulation Department, John Onojah, where he advised any BDC operator that paid the 2025 licence renewal fee should apply for a refund to its account from which the payment emanated.

The apex bank in the circular said it remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework.

The circular states, ‘’This is to inform all existing bureaux de change that further to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure, the Central Bank of Nigeria (CBN) has approved the waiver of 2025 licence renewal fee, effective immediately.

‘’Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria for refund to its account from which the payment emanated.

‘’The CBN remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework.’’