The Central Bank of Nigeria (CBN) has officially debunked circulating reports that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
In a statement released on Wednesday, the Bank’s Acting Director of Corporate Communications, Hakama Sidi Ali, described the claim as false and misleading, urging the public to disregard it entirely.
“The Bank has not granted any extension beyond the previously communicated deadline of June 3, 2025,” Sidi Ali stated.
She stressed the importance of relying solely on verified CBN sources, such as the official website and authorised communication channels, when seeking information related to the Bank’s regulatory directives.
“We urge the public, journalists, and media platforms to fact-check all news concerning the CBN using our verified sources,” she added.
The clarification comes amid growing speculation among operators following the apex bank’s February 2024 directive, which introduced a new regulatory framework for BDCs. Under the revised guidelines, operators are required to meet minimum capital thresholds of:
- ₦2 billion for Tier-1 BDCs
- ₦500 million for Tier-2 BDCs
The CBN reaffirmed its commitment to strengthening transparency, compliance, and stability in Nigeria’s foreign exchange market and said it would continue to engage with relevant stakeholders in line with its statutory responsibilities.
