In a move aimed at easing the financial burden on businesses, the Central Bank of Nigeria (CBN) has announced the waiver of the annual license renewal fee for all Bureau de Change (BDC) operators in 2025. This decision comes as the CBN continues to refine the regulatory framework for BDC operations in Nigeria.
The waiver, outlined in a recent circular, is part of the CBN’s ongoing efforts to support the foreign exchange market and ensure a smooth transition to the new regulatory guidelines. By eliminating this cost, the CBN aims to provide BDC operators with greater flexibility and resources to adapt to the evolving regulatory landscape.
This move has been met with positive feedback from the BDC community. One operator, speaking anonymously, welcomed the decision, stating, “This is a significant relief. By waiving the renewal fee, the CBN is demonstrating its commitment to supporting the BDC sector and fostering a more stable foreign exchange market.”
For those operators who have already paid the 2025 license renewal fee, the CBN has outlined a process for obtaining a refund.
This decision reflects the CBN’s proactive approach to regulating the foreign exchange market and its commitment to creating a more conducive environment for businesses to operate within Nigeria.
