The Central Bank of Nigeria has granted a waiver to authorized Bureau De Change operators on the 2025 non-refundable annual license renewal.

The apex bank disclosed this in a recent circular signed by its acting Director of Finance Policy, John Onojah.

CBN said the move aimed to ease the operators’ financial obligations.

Accordingly, the waiver shows the commitment by CBN to fostering stability, transparency, and efficiency in the foreign exchange market.

The apex explained that the waiver is part of the CBN’s broader strategy to support the ongoing transition to the new BDC regulatory structure, following the release of the “Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024.”

The circular states, “This is to inform all existing Bureau De Change operators 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 Central Bank of Nigeria has approved the waiver of the 2025 license renewal fee, effective immediately.”

“For those BDC operators who have already paid the 2025 license renewal fee, the CBN has made provisions for refunds. The circular advises such operators to apply to the director of the financial policy and regulation department for reimbursement.

“Any Bureau De Change that has paid for the 2025 license renewal is hereby advised to apply to the director, financial policy and regulation department, Central Bank of Nigeria, for a refund to its account from which the payment originated,” the circular reads.