The Central Bank of Nigeria (CBN) announced on December 8, 2025 that it has granted final licences to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025. Acting under the powers conferred by the Bank and Other Financial Institutions Act (BOFIA) 2020 and the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024, the CBN said only the BDCs listed on its website are authorised to conduct foreign‑exchange business from the effective date.
In its statement the CBN said, “only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date.” The Bank also warned the public to avoid dealing with unlicensed foreign‑exchange operators, noting that operating a Bureau De Change without a valid licence is a punishable offence under Section 57(1) of BOFIA 2020.
The CBN will continue to update the list of licensed BDCs on its website ((link unavailable)) for public verification. Members of the public are advised to take note and be guided accordingly.
The notice was signed by Hakama Sidi Ali (Mrs.), Ag. Director, Corporate Communications, Central Bank of Nigeria, dated December 8, 2025.
