CBN recertifies 2,765 BDCs to date


The Central Bank of Nigeria (CBN) has again recertified 77 more Bureaux De Change (BDCs) operators to continue in operation.

This brings the total number of BDCs that have so far met the new capital requirement of N35 million to 2, 765 as at September 11.

This is also the tenth time the CBN would be updating the list of BDCs that successfully scaled the recapitalisation hurdle after the July 31, 2014 deadline given the BDCs to shore up their capital base.

While the CBN had on August 15 announced that a total of 2, 442 BDCs met the new capital requirement as at July 31, 2014, the apex bank added 51 more BDCs to the list on September 5, 2014.

On November 14, 2014, the CBN added 15 more BDCs to the list and later added 11 more companies to the list of recapitalised BDCs on November 28, 2014.

Again on January 9, 2015, the apex bank informed that 21 more companies had been added to the list, thereby increasing the total of BDCs that have met the new capital requirement to 2, 523 as at that date. On February 6, another 28 BDCs recertified to continue in operation.

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