The Central Bank of Nigeria (CBN) on Friday said it revoked the licence of 3D Scanners BDC Ltd, 911 BDC Ltd, among other 4,171 Bureau de Changes (BDCs) operating in the country over failure to rendition returns in line with its guidelines, among others.
The Acting Director of Corporate Communications, CBN, Sidi Ali in a circular mentioned that the revoked BDCs also failed to pay all necessary fees, including license renewal, within the stipulated period in line with the guidelines and compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AMU), countering the financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.
According to her, the apex bank in the exercise of the power conferred on it under the Bank and Other Financial Institution Act (BOFIA) 2020, Act N0. 5, and the Revised operational guidelines for Bureaux De Change 2015 (the guidelines), has revoked the licenses of 4,173 BDC operators.
“The CBN is revising the regulatory and supervisory guidelines for BDC operations in Nigeria. Compliance with the new requirements will be mandatory for all stakeholders in the sector when the revised guidelines become effective.
“Members of the public are hereby advised to take note and be guided accordingly,” he added.
Comments are closed.