Nigeria's Central Bank extends BDC recapitalization deadline to June 2025 due to low compliance.

The Central Bank of Nigeria (CBN) has extended the deadline for Bureau De Change (BDC) operators to recapitalize from December 2024 to June 2025 due to low compliance. Existing BDC operators must meet minimum capital requirements, with Tier 1 needing N2 billion and Tier 2 needing N500 million. The extension aims to ease the financial burden on operators struggling to meet these new requirements.

November 26, 2024
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