Friday, July 4, 2025
Home Business CBN CLARIFIES GUIDELINES ON BDCS LICENSING.

CBN CLARIFIES GUIDELINES ON BDCS LICENSING.

 The Central Bank of Nigeria (CBN) has clarified the tier-based classification of Bureau De Change (BDCs), stating that the new guidelines followed an earlier exposure draft circulated for public input earlier this year, which the Bank has now incorporated and posted on its website on Wednesday, May 22, 2024.
According to the Acting Director of the Corporate Communications Department, Mrs Hakama Sidi Ali, who spoke with reporters in Abuja on Thursday, May 23, 2024, the new guidelines include two tiers of licencing.
She reiterated the Bank’s invitation to interested parties to apply for BDC licences, provided they meet the new guidelines, effective June 3, 2024, while existing BDCs will have a six-month grace period to meet the new requirements.
Furthermore, Sidi Ali said the CBN remained committed to repositioning the Bureau De Change (BDC) sub-sector to play its envisioned role in the foreign exchange market in Nigeria.
RELATED ARTICLES

NO BREACH OF CIVIL SERVICE RULES IN FORTHCOMING NEPC PROMOTION EXAMS – NEPC

  Nigeria Export Promotion Council (NEPC) has refutes the Sahara Reporters report  regarding the forthcoming promotion examinations at the Nigeria Export Promotion Council (NEPC). In the...

NAICOM HANDS OVER NEW LICENSES TO SANLAMALLIANZ LIFE AND GENERAL INSURANCE.

  The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. in a brief ceremony held in...

KADUNA STATE GOVERNMENT AND SMEDAN SIGN ₦1 BILLION MOU TO BOOST MSME DEVELOPMENT.

  In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed...

Most Popular

NO BREACH OF CIVIL SERVICE RULES IN FORTHCOMING NEPC PROMOTION EXAMS – NEPC

  Nigeria Export Promotion Council (NEPC) has refutes the Sahara Reporters report  regarding the forthcoming promotion examinations at the Nigeria Export Promotion Council (NEPC). In the...

NAICOM HANDS OVER NEW LICENSES TO SANLAMALLIANZ LIFE AND GENERAL INSURANCE.

  The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. in a brief ceremony held in...

KADUNA STATE GOVERNMENT AND SMEDAN SIGN ₦1 BILLION MOU TO BOOST MSME DEVELOPMENT.

  In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed...

NIGERIA, SAUDI ARABIA CUSTOMS SIGN HISTORIC COOPERATION AGREEMENT AT WCO COUNCIL SESSION IN BRUSSELS.

In a major diplomatic stride in alignment with Customs-to-Customs cooperation, the Nigeria Customs Service (NCS) and the Zakat, Tax and Customs Authority of the...

Recent Comments