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FULL LIST: Bureau de Change operators barred by CBN in massive crackdown

Sikiru Obarayese
External debt burden set to worsen amid further Project abandonment Naira depreciation paint bleak future Naira remains subdued despite CBN’s injection of $122.67m $35.18bn in reserves, BDC operators ABCON

On Friday, the Central Bank of Nigeria (CBN) revoked the licenses of 4,173 Bureaux De Change Operators, citing their failure to adhere to regulatory provisions.

The apex bank stated that this action is part of its efforts to restore confidence in the nation’s foreign exchange market.

The CBN stated that this action is in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), NIGERIAN TRIBUNE reports.

Below is a full list of the affected BDCs:

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