2015-07-16 | FPR/DIR/CIR/GEN/05/008

Circular to all Licensed Bureaux De Change (BDCs) in Nigeria

Starting August 1, 2015, all transactions by licensed Bureaux De Change (BDCs) in Nigeria must include the Bank Verification Number (BVN) of customers, with corporate customers providing the BVN of a director or authorized signatory. Non-compliance or provision of incorrect BVN information will result in penalties, including fines and potential license revocation.

Nigeria

Central Bank of Nigeria

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