Photo credit: The Guardian Nigeria News — CBN HQ Abuja:
2025-12-20 12:25:00
Reporting by Punch indicates the Central Bank of Nigeria has collected ₦192 million in licensing-related fees after issuing final approvals to 82 bureau de change operators.
The approvals sit within the CBN’s broader attempt to formalise retail FX activity, reduce leakages and improve traceability in foreign-exchange transactions.
Beyond the revenue, the regulatory signal is the big story: tighter licensing and supervision could reshape the BDC landscape by pushing informal operators out and strengthening compliance expectations for approved players.
For consumers, the outcome to watch is whether a more regulated ecosystem improves transparency and pricing—or simply shifts activity into other channels if supply remains constrained.
Reuters reported the same final-licence milestone, describing approvals for “82 BDCs” and linking it to efforts to curb street trading.
CBN guidance on BDC licensing also details fee requirements, including a “non-refundable final licence fee,” consistent with a structured licensing process.
Echotitbits take: The real test is enforcement. If street trading remains unchecked, licensing reforms won’t translate into stability. Also watch how banks and fintechs integrate retail FX flows as regulators tighten the market structure.
Source: The Guardian Nigeria News — December 20, 2025 https://guardian.ng/featured/cbn-issues-82-new-bdc-licences-moves-to-curb-unregistered-fx-operators/
