The Central Bank of Nigeria (CBN) has dismissed reports suggesting it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
In a statement issued on Tuesday, the Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, described the report as false and misleading, urging the public to disregard it.
“The CBN has not granted any extension beyond the previously announced deadline of June 3, 2025,” she said.
Sidi Ali advised journalists, media outlets, and stakeholders to verify information directly from official CBN sources — including the Bank’s website and authorised communication channels — before publishing or sharing news about its policies and regulatory directives.
She reaffirmed the Bank’s commitment to transparency and regulatory compliance in the foreign exchange market, noting that the CBN will continue to engage relevant stakeholders in line with its statutory mandate.
As part of a revised regulatory framework introduced in February 2024, the CBN mandated new minimum capital requirements for BDC operators. Tier-1 BDCs are required to meet a minimum capital of ₦2 billion, while Tier-2 operators must meet a ₦500 million threshold. The compliance deadline remains June 3, 2025.
The Bank urged the public to remain guided by official information and to avoid speculation that could undermine financial market stability.
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