Africa, Business
THE Central Bank of Nigeria (CBN) has explained that the new guidelines for licensing Bureau de Change followed an earlier exposure draft circulated for public input earlier this year, which it has now incorporated and posted on its website on Wednesday, May 22, 2024
The CBN made the clarification on the tier-based classification of Bureau De Change (BDCs) on Thursday, May 23, in a statement made available to Realnews.
The statement signed by Hakama Sidi Ali, acting director of the Corporate Communications Department of the CBN, who spoke with reporters in Abuja on Thursday, said that the new guidelines include two tiers of licencing.
Sidi-Ali reiterated the bank’s invitation to interested parties to apply for BDC licences, provided they meet the new guidelines, effective June 3, while existing BDCs will have a six-month grace period to meet the new requirements.
She said the CBN remained committed to repositioning the Bureau De Change (BDC) sub-sector to play its envisioned role in the foreign exchange market in Nigeria.
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-May 23, 2024 @ 18:54 GMT|
Tags: Central Bank of Nigeria Hakama Sidi Ali
