The Central Bank of Nigeria (CBN) has waived the 2025 licence renewal fee for all Bureau De Change (BDC) operators.
The decision is in line with the apex bank’s commitment to enhancing stability and transparency in foreign exchange market while transitioning to a revised regulatory framework.
This development was disclosed in a circular issued by the CBN’s Acting Director of Financial Policy and Regulation Department, John Onojah.
In the circular, the CBN clarified that operators who have already paid the 2025 licence renewal fee should apply for a refund to the account from which the payment originated.
“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 circular stated.
These guidelines form a critical part of the regulatory restructuring aimed at fostering efficiency and alignment within the foreign exchange market.
The circular further said, “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.”
The waiver is expected to provide financial relief to BDC operators and reinforce the regulatory transition process.