The Central Bank of Nigeria says the BDC recapitalization deadline has not changed.
It confirmed that the correct deadline is still June 3, 2025, and warned against fake news.
The Central Bank of Nigeria (CBN) has dismissed claims circulating online that the deadline for the recapitalization of Bureau De Change (BDC) operators has been pushed to December 31, 2025.
In a statement released by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank made it clear that the news being spread is not true. She described the report as misleading and false, stressing that it should not be taken seriously. According to her, the deadline for recapitalization remains June 3, 2025, as earlier announced, and no extension has been approved.
Mrs. Sidi Ali advised the public, media outlets, journalists, and all stakeholders to double-check any updates concerning the CBN through its official website or approved communication platforms. She emphasized the importance of relying on credible sources before sharing or publishing any information related to the bank’s regulatory activities.
She also restated the CBN’s commitment to promoting transparency, market stability, and strict compliance within the foreign exchange sector.
The new recapitalization guidelines, announced in February 2024, require BDCs to meet updated capital thresholds. Tier-1 operators are expected to raise at least ₦2 billion, while Tier-2 operators must have a minimum capital base of ₦500 million.
