The Central Bank of Nigeria has denied reports suggesting that the deadline for the recapitalisation of Bureau De Change operators has been extended to December 31, 2025.

In a statement released on Wednesday, the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, dismissed the claims as “false” and “misleading,” urging the public to disregard such misinformation.

She affirmed that no extension has been approved and the June 3, 2025 deadline still stands as earlier stated.

“The Central Bank of Nigeria has debunked a news story in circulation suggesting that the Bank has extended the deadline for the recapitalisation of Bureau De Change operators to December 31, 2025,” the statement read.

“The bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025.”

The CBN advised the public, media outlets, and stakeholders to verify all policy-related information through its official communication channels, including its website.

Tier-1 operators must maintain a minimum capital base of ₦2 billion, while Tier-2 operators are required to hold ₦500 million.

The CBN reiterated its dedication to maintaining stability and transparency in the foreign exchange market, noting that it is actively engaging stakeholders to ensure adherence to regulatory guidelines.

It was earlier reported that the Association of Bureau De Change Operators of Nigeria earlier warned that approximately three million Nigerians could lose their livelihoods if BDCs are forced to shut down for failing to meet the new capital requirements.