CBN Waives Annual Licence Renewal Fee for BDC Operators

By Aduragbemi Omiyale

The yearly licence renewal fee expected from Bureaux De Change (BDC) operators in the country has been waived for 2025 by the Central Bank of Nigeria (CBN).

This development was confirmed by the central bank in a statement signed by its acting Director for Financial Policy and Regulation Department, Mr Johnson Ojah.

The BDC operators are usually required to renew their operating licences every year for N250,000 in compliance with the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, but the apex bank said it would not collect for this year because of the ongoing transition to the new BDC regulatory structure.

The bank advised those who have already paid for this year to request for refund.

“Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria for refund to its account from which the payment emanated,” a part of the notice stated.

Recall that last year, the CBN asked forex traders to increase their capital base, with tier-1 operators expected to raise N2 billion minimum capital, while tier-2 are to get at least N500 million minimum capital to remain in business.

They were given to June 3, 2025, to shore up their capital, as the apex bank said this was to foster stability, transparency, and efficiency in the foreign exchange (FX) market.