By 
ABUJA — The Central Bank of Nigeria (CBN) has officially denied reports suggesting that the deadline for the recapitalisation of Bureau De Change (BDC) operators has been extended to December 31, 2025.
In a statement issued on Tuesday, the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, categorically dismissed the circulating report as false and misleading, urging the public and media to disregard the misinformation.
“The Central Bank has not approved any extension beyond the previously announced deadline of June 3, 2025,” she clarified, affirming the regulator’s position on the matter.
Call for Media Responsibility and Stakeholder Vigilance
Mrs. Sidi Ali advised journalists, media outlets, and stakeholders to verify regulatory updates exclusively through official CBN channels, including the Bank’s website and authorised communication platforms, to avoid the spread of unverified information.
“The CBN remains committed to transparency, regulatory clarity, and market stability, and continues to engage stakeholders within the scope of its statutory responsibilities,” she added.
Context: Revised Capital Framework for BDCs
The clarification follows the CBN’s revised regulatory framework for BDC operations, introduced in February 2024, which mandates new minimum capital thresholds for operators:
- ₦2 billion for Tier-1 BDCs
- ₦500 million for Tier-2 BDCs
These measures are part of broader reforms aimed at strengthening governance, enhancing transparency in the forex ecosystem, and ensuring compliance across financial intermediaries.
The CBN’s reaffirmation underscores its ongoing commitment to enforcing its recapitalisation directive and its broader objective of deepening confidence and integrity in Nigeria’s foreign exchange market.
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