CBN Approves Waiver of Non-Refundable License Renewal Fee for BDCs

CBN Waives 2025 License Renewal Fee for Bureaux De Change Operators

The Central Bank of Nigeria (CBN) has announced that it will waive the non-refundable annual license renewal fees for existing Bureaux De Change (BDCs) in the country for the year 2025.

This decision was communicated through a circular signed by John Onojah, Acting Director of the Financial Policy and Regulations Department at CBN. The waiver is part of the ongoing transition to the new BDC regulatory structure, as outlined in the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024.

The circular informs all BDC operators that the 2025 license renewal fee has been waived, effective immediately. The Bank also advised BDCs that have already paid the renewal fee for 2025 to apply for a refund to the account from which the payment was made.

This move is aimed at promoting stability, transparency, and efficiency in the foreign exchange market while ensuring that operators adhere to the updated regulatory framework.

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