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.
The bank categorically stated that only Bureaux De Change listed on the Bank’s website are authorised to
operate from the effective date.
Meanwhile, the apex bank advises the
general public to avoid dealing with unlicensed Foreign Exchange Operators even as it continues to update the list of Bureaux De Change with valid operating licences for public verification on our website (www.cbn.gov.ng).
The bank stressed that operating a Bureau De Change business without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
Members of the public are advised to take note and be guided accordingly.