By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: CBN Revokes 4,173 BDC Operational Licences
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | CBN Revokes 4,173 BDC Operational Licences

News

CBN Revokes 4,173 BDC Operational Licences

Tapre Timine
Tapre Timine
Published: June 14, 2025
Last updated: June 14, 2025
2 Min Read
Share
CBN Revokes 4,173 BDC Operational Licences | Daily Report Nigeria
SHARE

The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change (BDC) Operators due to their non-compliance with regulatory guidelines.

CBN’S action was officially communicated in a statement signed by the acting Director of Corporate Communications, Sidi Hakama, on Friday.

The withdrawal of these licenses is in accordance with the powers vested in the apex bank by the Bank and Other Financial Institutions Act 2020 (Act No. 5) and the Revised Operational Guidelines for Bureaux De Change 2015.

The affected institutions were found to have failed to adhere to at least one of the regulatory provisions.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

Specifically, the regulations include the timely payment of all necessary fees, including license renewal, within the stipulated period.

The CBN stressed that the measure is essential to maintain compliance with guidelines, directives, and circulars, particularly those related to Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF).

Its statement read:

“The Central Bank of Nigeria, in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015, has revoked the licences of 4,173 Bureaux De Change Operators.

“The list of affected BDC operators is available on the Bank’s website (www.cbn.gov.ng).

“The affected institutions failed to observe at least one of the following regulatory provisions: Payment of all necessary fees, including licence renewal, within the stipulated period in line with the Guidelines.

“Rendition of returns in line with the Guidelines. Compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering, Countering the Financing of Terrorism and Counter-Proliferation Financing regulations.

“The CBN is revising the regulatory and supervisory guidelines for Bureau de Change operations in Nigeria. Compliance with the new requirements will be mandatory for all stakeholders in the sector when the revised guidelines become effective.

“Members of the public are hereby advised to take note and be guided accordingly.”

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:BDCCBNTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

JAMB Fixes June 28 for Mop-Up UTME, Delists 113 Centres | Daily Report Nigeria
JAMB Fixes June 28 for Mop-Up UTME, Delists 113 Centres
News
“Decide Soon or We Move On” – Galatasaray Lose Patience with Osimhen | Daily Report Nigeria
“Decide Soon or We Move On” – Galatasaray Lose Patience with Osimhen
Sports
Yul Edochie Says His Ministry Is Back, Embraces Both Christian and Traditional Worship | Daily Report Nigeria
Yul Edochie Says His Ministry Is Back, Embraces Both Christian and Traditional Worship
Entertainment
UNN Student Kidnapped While Jogging Inside Campus, N10m Ransom Demanded | Daily Report Nigeria
UNN Student Kidnapped While Jogging Inside Campus, N10m Ransom Demanded
Metro
UFC: Jon Jones Announces Retirement, Aspinall Takes the Crown | Daily Report Nigeria
UFC: Jon Jones Announces Retirement, Aspinall Takes the Crown
Sports

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Ekpeye Youths Exonerate Brown Omekwe of Cultism Allegations, Berates Oil Bunkers | Daily Report Nigeria
News

Ekpeye Youths Exonerate Brown Omekwe of Cultism Allegations, Berates Oil Bunkers

June 13, 2025
We Need More Troops in Oyo - Makinde | Daily Report Nigeria
Metro

We Need More Troops in Oyo – Makinde

April 19, 2025
Fidson Healthcare Partners with Chinese Firms to Build Advanced Pharmaceutical Plant in Lagos | Daily Report Nigeria
Business

Fidson Healthcare Partners with Chinese Firms to Build Advanced Pharmaceutical Plant in Lagos

June 11, 2025
'Ohanaeze Died in 1984' - Isiguzoro | Daily Report Nigeria
News

‘Ohanaeze Died in 1984’ – Isiguzoro

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?