Friday, July 25, 2025
Home Business CBN DEBUNKS REPORT ON BDC RECAPITALISATION DEADLINE.

CBN DEBUNKS REPORT ON BDC RECAPITALISATION DEADLINE.

The Central Bank of Nigeria (CBN) has debunked a news story in circulation suggesting that the Bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
The CBN, through its Acting Director of the Corporate Communications Department,  Hakama Sidi Ali, described the information as false, misleading, and stated that it should be disregarded.
According to her, the Bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025.
She consequently urged the general public, journalists, media platforms, and all stakeholders to consistently verify information directly from official CBN sources, such as the Bank’s website and authorised communication channels, before publishing or sharing news about the Bank and its regulatory directives.
She noted that , 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 accordance with its statutory mandate.
As part of the revised framework introduced in February 2024, BDCs are required to meet new minimum capital requirements: ₦2 billion for Tier-1 and ₦500 million for Tier-2 operators.
RELATED ARTICLES

CGC ADENIYI EMPHASISES CUSTOMS’ ROLE IN CURBING ILLICIT FINANCIAL FLOWS AT REVENUE REFORM CONFERENCE.

Comptroller‑General of Customs Bashir Adewale Adeniyi  has emphasised the vital role of the Nigeria Customs Service  in fighting illicit financial flows (IFFs) during the...

JOB CREATION: SMEDAN CHAMPIONS GROW NIGERIA INITIATIVE.

The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has commended the “GROW Nigerian” strategy which aims to boost the growth of Micro,...

CBN CLARIFIES NRBVN CHARGES FOR NIGERIANS IN DIASPORA, REAFFIRMS COMMITMENT TO FINANCIAL INCLUSION.

The Central Bank of Nigeria (CBN) has clarified recent speculations regarding charges related to the newly launched Non-Resident Bank Verification Number (NRBVN) platform, affirming...

Most Popular

CGC ADENIYI EMPHASISES CUSTOMS’ ROLE IN CURBING ILLICIT FINANCIAL FLOWS AT REVENUE REFORM CONFERENCE.

Comptroller‑General of Customs Bashir Adewale Adeniyi  has emphasised the vital role of the Nigeria Customs Service  in fighting illicit financial flows (IFFs) during the...

DICAN LEADS GLOBAL DIALOGUE ON SECURITY AND Diplomacy IN ABUJA.

‎ ‎The Diplomatic Correspondents Association of Nigeria (DICAN) on Tuesday hosted its maiden Diplomatic/Security International Conference at the Rotunda Hall of the Ministry of Foreign...

PROFESSOR NENTAWE YILWATDA EMERGES NEW APC NATIONAL CHAIRMAN.

The All Progressives Congress (APC) has settled on a new national chairman, with Professor Nentawe Yilwatda emerging as the consensus nominee to lead Nigeria’s...

KEBBI  GOVERNOR AWARDS N283 MILLION CONTRACT TO MODERNISE STATE PRINTING PRESS.

  The Kebbi State Government has commenced full-scale rehabilitation and modernisation of its Printing Press in Birnin Kebbi, following the approval of a N283 million...

Recent Comments