The Central Bank of Nigeria (CBN) has refuted a circulating report claiming that the deadline for the recapitalisation of Bureau De Change (BDC) operators has been extended to December 31, 2025.
Through its Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, the CBN described the report as false and misleading, urging the public to disregard it.
According to her, the bank has not issued any extension beyond the previously announced deadline of June 3, 2025.
She urged the public, journalists, media outlets, and stakeholders to verify information directly from official CBN sources, such as its website and authorised communication channels, before disseminating news about the Bank and its regulatory actions.
“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,” Sidi Ali stated.
She also highlighted that under the revised framework introduced in February 2024, BDC operators are required to meet new minimum capital thresholds — ₦2 billion for tier-one and ₦500 million for tier-two operators.