CBN Licenses 82 Bureaux De Change Under New Guidelines
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has confirmed the grant of Final Licenses to 82 Bureaux De Change (BDCs), officially authorizing them to operate in the country. The licenses took effect from November 27, 2025.
The announcement, contained in a statement issued on Monday by the Ag. Director, Corporate Communications, Hakama Sidi Ali (Mrs.), signifies a major step in implementing the CBN’s recently revised regulatory framework for the sub-sector.
The decision was made in exercise of the powers conferred on the CBN under the Bank and Other Financial Institutions Act (BOFIA) 2020, alongside the new Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024.
The statement made clear the operational implication of the development, noting that “only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.”
Mrs. Ali stated that the CBN will continue to update the list of licensed operators, which is available for public verification on the bank’s website.
The central bank issued a strong caution to the public regarding illegal operators. Mrs. Ali noted that the Bank “advises the general public to avoid dealing with unlicensed Foreign Exchange Operators.”
The CBN pointed out that operating a Bureau De Change business without a valid licence is a severe breach of law. For the avoidance of doubt, the central bank stated that such an activity is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
Members of the public were advised to heed the notice and be guided by the official list of licensed BDCs.
