Home Business CBN denies BDC recapitalisation deadline extension
Business

CBN denies BDC recapitalisation deadline extension

Share
Share


From Adanna Nnamani, Abuja

The Central Bank of Nigeria (CBN) has dismissed reports circulating online that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.

In a statement issued by the Acting Director of the Corporate Communications Department, Mrs Hakama Ali, the central bank described the information as false and misleading, urging the public to disregard it.

Ali reiterated that the deadline for BDC recapitalisation remains as previously announced: Tuesday, June 3, 2025.

The apex bank spokesperson stressed the importance of verifying news before dissemination, urging journalists, media platforms, and stakeholders to source information directly from official CBN channels, including the bank’s website.

“The CBN remains committed to ensuring transparency, stability, and compliance in the foreign exchange market and will continue to engage with all relevant stakeholders in accordance with its statutory mandate,” Ali noted.

As part of the revised framework introduced in February 2024, BDCs are required to meet new minimum capital requirements: N2 billion for Tier-1 and N500 million for Tier-2 operators.



Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published.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

Related Articles

NNPC Ltd deepens gas penetration with 6MMSCFD CNG,

As part of its strategic drive to expand gas marketing and distribution...

Ethiopian Airlines expands MRO

By Chinelo Obogo Ethiopian Airlines Group has expanded its Maintenance, Repair &...

FG raises bank reporting threshold to N25m for individuals,

The Federal Government has directed banks and other financial institutions in Nigeria...

CBN prioritises discipline over stimulus push

By Chinwendu Obienyi In the eye of Nigeria’s ongoing economic storm, the...