BDC operators Archives

Terrorism: EFCC probed Lagos BDC operator before US sanctions, says source

The Economic and Financial Crimes Commission was already investigating a Lagos-based Bureau De Change operator, Mukhtar Adamu Muhammad, and three companies linked to him for alleged terrorism financing before the United States government imposed sanctions on them, sources within the anti-graft agency have disclosed. The PUNCH reported that top EFCC officials familiar with the investigation […]

aadelekepdnlimited-com
25th June 2026
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featured Policy and Regulations

CBN imposes 25% cash limit on travel allowances from BDCs

The Central Bank of Nigeria has implemented a new restriction on the amount of cash beneficiaries can receive when accessing their Personal Travel Allowance and Business Travel Allowance through Bureau De Change. The new limit is capped at 25 per cent of the total allowance. This information was officially revealed by the CBN in a […]

aadelekepdnlimited-com
11th December 2025
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344 Views

Finance

CBN licenses 82 BDCs to operate in FX market

The Central Bank of Nigeria on Monday announced that it has granted 82 Bureau De Changes final licenses to operate in the foreign exchange market. The CBN disclosed this in a statement signed by its Acting Director Corporate Communication, Dr. Sidi-Ali Hakama. The apex bank warned the public against dealing with unlicensed foreign exchange operators. […]

aadelekepdnlimited-com
9th December 2025
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263 Views

Naira drops to all-time low on official window, trades at 1348/$

News

BDC operators urges FG to deepen ties with China, others against US tariff

The Association of Bureau de Change Operators of Nigeria has urged the Federal Government to bolster trade relations with India, China, and African countries as a strategic response to the damaging effects of a 14% tariff imposed by United States President Donald Trump on Nigerian exports. ABCON President, Dr. Aminu Gwadabe, raised the alarm over […]

aomenyepdnlimited-com
8th April 2025
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157 Views

BDC operators struggle with new CBN rules, call for clarification

The Bureau De Change operators in the country have yet to comply with the new guidelines for their operations, which were announced by the Central Bank of Nigeria three weeks ago. The President Association of Bureau De Change Operators of Nigeria, Aminu Gwadebe, said that BDCs’ noncompliance was caused by a lack of clarity in […]

monwubukepdnlimited-com
25th June 2024
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213 Views

EFCC arrest BDC operators as naira weakens to 1,419/$

The Economic and Financial Crimes Commission carried out an unannounced raid at Zone 4 Wuse in Abuja, on Monday, which resulted in the arrest of an unknown number of Bureau De Change operators. This was confirmed by BDC operators trading in Wuse noting that the raid happened around noon and that a raid took place […]

monwubukepdnlimited-com
30th April 2024
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206 Views

CBN clears $64.44m forex backlog for airlines

JUST IN: CBN revokes operational licenses of 4,173 BDCs

The Central Bank of Nigeria, in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), has revoked the licenses of 4,173 Bureaux De Change Operators. This was disclosed on Friday in a […]

aadelekepdnlimited-com
1st March 2024
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294 Views

Osun resubmits state's nomination for bank role, challenges CBN’s rejection

Economy

CBN resumes sales of FX to BDC operators

The Central Bank of Nigeria has made a firm decision to close the growing exchange rate difference in an effort to address the enduring inefficiencies in the retail sector of Nigeria’s foreign currency market. According to The Times, the Director of Trade & Exchange Department, Dr. Hassan Mahmud, released a fresh circular on behalf of […]

bfatoyepdnlimited-com
27th February 2024
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231 Views

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Tag: BDC operators

Terrorism: EFCC probed Lagos BDC operator before US sanctions, says source

CBN imposes 25% cash limit on travel allowances from BDCs

CBN licenses 82 BDCs to operate in FX market

BDC operators urges FG to deepen ties with China, others against US tariff

BDC operators struggle with new CBN rules, call for clarification

EFCC arrest BDC operators as naira weakens to 1,419/$

JUST IN: CBN revokes operational licenses of 4,173 BDCs

CBN resumes sales of FX to BDC operators

Federal workers demand N300,000 minimum wage, payment of.

Elumelu to retire as UBA Group chairman after.

Microsoft to cut 4,800 jobs as AI investment.

I started my ICAN journey at 13, says.

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