Central Bank of Nigeria has updated its regulatory guidelines for Bureau De Change operator in Nigeria.
According to PUNCH report, after with stakeholders consultation, the following changes were made;
The mandatory caution deposit of N200m for tier-1 BDC licence holders has been removed.
Similarly, N50m for tier-2 licence holders has also been waived.
The non-refundable annual licence renewal fee has been withdrawn.
The Apex bank noted that these adjustments aim to streamline BDC operations and enhance financial accessibility.
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