The Central Bank of Nigeria (CBN) has granted final operating licenses to 82 Bureaux De Change, bolstering its oversight of the retail foreign exchange market and boosting trust in regulated FX transactions nationwide.
The list features two newly approved Tier 1 operators and 80 Tier 2 licensees. The Tier 1 approvals go to Dula Global BDC Ltd and Trurate Global BDC Ltd. As for Tier 2, the mix includes brands like Abbufx BDC Ltd, Arctangent Swift BDC Ltd, Bravo Model BDC Ltd, Corporate Exchange BDC Ltd, Greenvault BDC Ltd, MCMena BDC Ltd, Rapid BDC Ltd, Sevenlocks BDC Ltd, Traveller’s Choice BDC Ltd, Unigo BDC Ltd, Zamad Forex BDC Ltd, and others.
In a statement, Hakama Sidi Ali, Acting Director of Corporate Communications of the Apex bank said the approvals, effective from November 27 2025, were issued under the Bank and Other Financial Institutions Act 2020 in alignment with the 2024 Regulatory and Supervisory Guidelines for Bureaux De Change Operations.
The apex bank stated that only operators published on its official website are authorised to provide BDC services, and it will continue to update the list for public validation to ensure market transparency and compliance.
The CBN also cautioned Nigerians and businesses to desist from dealing with unlicensed FX operators. It stressed that operating a Bureau De Change business without a valid licence constitutes a criminal offence under Section 57(1) of the BOFIA 2020.
Industry stakeholders interpret the latest approvals as a further step toward formalising FX retail activity, curtailing market abuse and strengthening credibility in the foreign exchange value chain.
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