CBN Headquarters Abuja
By MBAFAN ADE, Abuja-
The Central Bank of Nigeria (CBN) has denied reports of an extension to the recapitalisation deadline for Bureau De Change (BDC) operators beyond June 3.
In a statement, CBN Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, described the information as false and misleading.
“The CBN has not granted any extension beyond the previously communicated deadline of June 3,” Sidi Ali said.
“We urge the general public, journalists, media platforms, and all stakeholders to consistently verify information directly from official CBN sources.”
The CBN emphasised the importance of verifying information through official channels, including the CBN website and authorised communication channels, before publishing or sharing news about the Bank and its regulatory directives.
Regulatory Framework
The CBN introduced a revised framework in February 2024, requiring BDCs to meet new minimum capital requirements: N2 billion for Tier-1 and N500 million for Tier-2 operators.
The deadline for meeting these requirements was June 3, with no extension granted.
