CBN Issues Revised Operational Guidelines For Bureaux De Change

By
Ukhueleigbe Zaccheus
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CBN

  • CBN Plan N2bn, N500m Minimum Capital For BDCs

The Central Bank of Nigeria (CBN) is mulling an increase in the share capital of Bureau De Change (BDC) operators to N2 billion and N500 million for Tier 1 and Tier 2 licenses.

It was previously N35 million for a general license.

BrandSpur Nigeria reports that the update was contained in the draft REVISED REGULATORY AND SUPERVISORY GUIDELINES FOR BUREAU DE CHANGE OPERATIONS IN NIGERIA published by the apex bank.

The new guidelines contain several new changes to the guidelines for BDC operations in the country. If endorsed, the new guidelines will be effective at a date decided by the CBN.

Read details below;