The Central Bank of Nigeria (CBN) has debunked a new report in circulation suggesting that the bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
The Central Bank of Nigeria (CBN), through its Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, has dismissed recent reports suggesting an extension of the compliance deadline for Bureau de Change (BDC) operators, calling the information false and misleading.
In a statement issued on Wednesday, Sidi Ali clarified that the Bank has not granted any extension beyond the earlier communicated deadline of June 3, 2025.
She urged the public, journalists, media outlets, and stakeholders to always verify information through official CBN platforms, such as the Bank’s website and authorised communication channels, before sharing or publishing content related to its policies and regulatory decisions.
“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 line with its statutory mandate,” she added.
Sidi Ali also reiterated that, under the revised regulatory 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.
