CBN Waives 2025 License Renewal Fee for BDC Operators

The Central Bank of Nigeria (CBN) has waived the 2025 annual license renewal fee for Bureau De Change (BDC) operators, as part of its efforts to support the foreign exchange market.

The announcement, made via a circular dated January 24, 2025, and signed by John S. Onojah, Acting Director of Financial Policy and Regulation, reflects the CBN’s commitment to fostering stability and efficiency within the sector.

The circular explained that the waiver aligns with the implementation of the “Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024.” Operators who have already paid the fee can apply for a refund.

BDC operators welcomed the move, with one describing it as a relief that will help redirect resources toward meeting new regulatory standards.

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