CBN To Refund Bureaux De Change License Fee

The Central Bank of Nigeria (CBN) has said it will refund Bureaux De Change (BDCs) that have paid their annual license renewal fees for 2025 after it waived the fees.
In a circular titled: “Waiver on Non-Refundable Annual License Renewal Fee for Existing Bureaux De Change,” issued by the apex bank and signed by the acting director, Financial Policy and Regulation, John Onojah, the apex bank said BDCs that had paid should apply for a refund.
According to the banking industry regulator, the waiver, which is effective immediately, is part of the transition to the new BDC regulatory structure. “This is to inform all existing bureaux de change that further to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure, the CBN has approved the waiver of 2025 licence renewal fee, effective immediately.
“Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the director, Financial Policy and Regulation Department, Central Bank of Nigeria for refund to its account from which the payment emanated.
“The CBN remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align. with the revised regulatory framework,” it pointed out.