The Central Bank of Nigeria has granted a waiver for the 2025 annual license renewal fee for all existing Bureau De Change operators. This decision, outlined in a circular dated January 24, 2025, is part of the ongoing transition to a new regulatory structure for BDCs. The waiver, effective immediately, applies to all current operators. Operators who have already paid the renewal fee for 2025 are advised to seek a refund by contacting the Director of the Financial Policy and Regulation Department at the CBN. This step aligns with the bank’s commitment to enhancing stability, transparency, and efficiency in the foreign exchange market and ensuring compliance with the updated regulatory framework. The waiver is anticipated to alleviate financial burdens on operators and promote adherence to the new guidelines set in 2024. This move signifies a shift in the CBN’s strategy towards regulating the BDC sector, aiming to support operators in their role of market stabilization. In recent times, the apex bank has been implementing reforms to address challenges in foreign exchange liquidity, enhance operator compliance, and reduce sector distortions.
CBN waives 2025 license renewal fee for BDC operators
