CBN reaffirms June 2025 deadline for BDC recapitalisation, dismisses rumoured extension

The Central Bank of Nigeria (CBN) has reiterated that the deadline for the recapitalisation of Bureau De Change (BDC) operators remains June 3, 2025, countering widespread speculation of a deadline extension.

In a statement issued by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank firmly denied reports claiming the deadline had been moved to December 31, 2025, labelling them as “false and misleading.”

Mrs. Sidi Ali emphasized that the CBN has made no adjustments to the timeline set under its revised regulatory framework announced in February 2024, which requires BDC operators to meet new minimum capital thresholds — ₦2 billion for Tier-1 and ₦500 million for Tier-2 licenses.

She urged members of the public, media outlets, and industry stakeholders to consult only official CBN platforms for verified updates and regulatory information. “Misinformation can undermine market stability, and we encourage responsible dissemination of facts,” she stated.

Reaffirming its commitment to a stable and transparent foreign exchange market, the CBN assured it will continue engaging stakeholders and maintaining regulatory clarity in line with its statutory mandate.