Governor, Central Bank of Nigeria
In an unprecedented sweep, the Central Bank of Nigeria has slashed the number of Bureau de Change (BDC) operators in Nigeria to only 82 across the country. The BDC operators used to be more than 5,500 in 2021 and around 5,690 in 2024.
The new regulatory guidelines, aimed at curbing illicit financial activities and boosting external reserves, demand NGN2 billion in share capital for top-tier firms to obtain their operational licenses.