The Central Bank of Nigeria has rejected reports claiming that the deadline for the recapitalisation of Bureau De Change operators has been extended to December 31, 2025.
The apex financial institution recently shared that the information is false and misleading.
Speaking via a press statement, the CBN’s acting Director of the Corporate Communications Department, Mrs Hakama Sidi-Ali, said that no such extension has been granted by the CBN.
According to her, the official deadline remains set for June 3, 2025, as previously communicated; therefore, any extension report should be completely ignored.
“The Central Bank of Nigeria has debunked a news story in circulation suggesting that the Bank has extended the deadline for the recapitalisation of Bureau De Change operators to December 31, 2025.
The bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025,” it read.
The CBN further appealed to the public, media houses, and stakeholders to verify all information related to its policies via the bank’s official communication channels, including its website.
The clarification is coming as the Central Bank of Nigeria keeps enforcing its new regulatory framework for BDCs, launched in February 2024, which makes it compulsory for all BDC operators to meet higher capital requirements.
CBN concluded by reiterating its commitment to guaranteeing stability and transparency in Nigeria’s foreign exchange market while engaging with relevant stakeholders to ensure compliance with the regulatory framework.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
