Regulatory Alerts2025-01-24 | FPR/DIR/PUB/CIR/001/001Waiver of Non-Refundable Annual Licence Renewal Fee for Existing Bureaux De Change
The Central Bank of Nigeria has waived the 2025 license renewal fee for existing bureaux de change operators, advising those who have already paid to apply for a refund. This decision aims to foster stability, transparency, and efficiency in the foreign exchange market while ensuring operators adhere to the new regulatory framework. The bank remains committed to guiding operators through the transition to the new BDC regulatory structure.
Central Bank of Nigeria Financial Policy and Regulation Department Central Business District, Cadastral Zone AO, P.M.B 0187, Garki-Abuja Telephone: +234 (0) 9 462 374 fprd@cbn.gov.ng Website: www.cbn.gov.no FPR/DIR/PUB/CIR/001/001 January 24, 2025 CIRCULAR TO ALL BUREAU DE CHANGE OPERATORS AND STAKEHOLDERS IN THE FINANCIAL SERVICES INDUSTRY WAIVER OF NON-REFUNDABLE ANNUAL LICENCE RENEWAL FEE FOR EXISTING BUREAUX DE CHANGE This is to inform all existing bureaux de change that further to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure, the Central Bank of Nigeria (CBN) has approved the waiver of 2025 licence renewal fee, effective immediately.
Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria for refund to its account from which the payment emanated.
The CBN remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework.
ONOJAH JOHN S Ag. DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT