CBN dismisses rumour of BDC recapitalisation deadline extension

The Central Bank of Nigeria (CBN) has refuted reports claiming that it has extended the deadline for Bureau De Change (BDC) operators to meet new recapitalisation requirements until December 31, 2025.

In a statement issued on Tuesday, the Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, described the circulating report as false and misleading, urging the public to disregard it.

“The CBN has not granted any extension beyond the earlier announced deadline of June 3, 2025,” she clarified.

Sidi Ali advised journalists, media organisations, and the general public to always confirm regulatory information directly from the Bank’s official platforms—including its website and authorised communication channels—before publishing or sharing.

She reiterated the Bank’s commitment to transparency, stability, and strict compliance within the foreign exchange market. “The CBN remains engaged with all relevant stakeholders in line with its statutory mandate,” she said.

As part of the new regulatory framework introduced in February 2024, BDC operators are required to meet revised minimum capital thresholds: ₦2 billion for Tier-1 and ₦500 million for Tier-2 license holders. The recapitalisation exercise is part of broader efforts by the CBN to sanitise and strengthen the forex market.