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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