The Central Bank of Nigeria (CBN) has granted final license to 82 Bureaux De Change in line with the provision of the Bank and Other Financial Institutions Act (BOFIA) 2020, and the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024.
This was disclosed in a notice signed by the Acting Director of Corporate Communications, Hakama Sidi Ali
According to CBN, the newly licensed BDCs are authorised to commence operation effective November 27, 2025.
The statement reads, “The Central Bank of Nigeria (CBN), in exercise of its powers conferred under the Bank and Other Financial Institutions Act (BOFIA) 2020, and the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024 (the Guidelines), has granted Final Licenses to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025.
“By this notice, only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.”
CBN emphasised It will continue to update the list of Bureaux De Change with valid operating licences for public verification on its website (http://cbn.gov.ng), the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators.
While cautioning against patronising illegal BDCs ,the CBN reminded the public that operating a Bureau De Change business without a valid license is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
The statement added, “Members of the public are hereby advised to note and be guided accordingly.”
