Central Bank of Nigeria (CBN) has issued a clarification regarding a recent report that inaccurately stated the deadline for the recapitalisation of Bureau De Change (BDC) operators had been extended to December 31, 2025.
Gatekeepers News reports that Hakama Sidi Ali, the Acting Director of the Corporate Communications Department, stressed that the correct deadline remains June 3, 2025, with no extensions granted.
In her remarks, Sidi Ali urged the public, journalists, and media organisations to verify information through official CBN sources, such as the Bank’s website and authorised communication channels, before sharing any news about the Bank and its regulatory policies.
She further reaffirmed the CBN’s commitment to maintaining transparency, stability, and compliance within the foreign exchange market. A revised framework introduced in February 2024 has established new minimum capital requirements for BDCs: ₦2 billion for tier-one operators and ₦500 million for tier-two operators.
