Today, the Central Bank of Nigeria (CBN) announced a significant change: it has waived the non-refundable annual license renewal fees for current Bureaux De Change (BDCs) operating in the country.
This information was shared in a circular directed to BDC operators and key stakeholders within the financial services sector.
The circular, which was signed by John Onojah, Acting Director of the Financial Policy and Regulations Department, clearly stated that this waiver is effective immediately.
The document references the 2024 Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria and highlights ongoing changes.
The CBN instructed any bureau that paid the 2025 license renewal fee to contact the Director for a refund.
They should apply to the CBN for reimbursement to the account used for the original payment.
Furthermore, the CBN emphasizes its commitment to maintaining stability, transparency, and efficiency in the foreign exchange market.
It also ensures that BDC operators adhere to the updated regulatory framework, fostering a positive environment for all involved.
