The Acting Director of the Corporate Communications Department of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi Ali, has debunked the recent news in circulation suggesting that the bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.
CBN maintains that the information is false, misleading and should be disregarded. The bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025.
In the revised framework introduced by CBN in February 2024, BDCs were required to meet new minimum capital requirements of N2 billion for tier-one and N500 million for tier-two operators.
Hakama Sidi Ali urged the general public, media platforms, and all stakeholders to verify the information directly from official CBN sources, such as the Bank’s website and authorised communication channels, before publishing or sharing news about the Bank and its regulatory directives.
The CBN remains committed to ensuring transparency, stability, and compliance in the foreign exchange market and will continue to engage with all relevant stakeholders in accordance with its statutory mandate.