2021-07-08 | FPR/LAD/CON/BDC/006/100

Payment of Annual Licensing Renewal Fees

The Central Bank of Nigeria has noticed issues with how Bureaux De Change operators pay their annual license renewal fees, including unclear postings and the use of unlinked third-party names. To address this, the CBN instructs all BDCs to pay their fees from their operating accounts by March 31st each year, using their BDC names, or face sanctions as per the Revised Operational Guidelines for Bureaux De Change in Nigeria (2015).

Nigeria

Central Bank of Nigeria

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