The Central Bank of Nigeria (CBN) has confirmed that just 82 Bureau De Change (BDC) operators currently hold valid licences to operate in the country.
The announcement was made on Monday by the Bank’s spokesperson, Hakama Sidi Ali. According to the CBN, the licences were issued in line with its powers under the Bank and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Regulatory and Supervisory Guidelines for Bureaux De Change Operations.
The apex bank stated that the final licences became effective on 27 November 2025. It warned that anyone operating a BDC without a valid licence is in violation of Section 57 of BOFIA 2020.
“By this notice, only Bureaux De Change listed on the Bank’s website are authorised to operate from the effective date,” the statement said.
The CBN further advised the public to avoid dealings with unlicensed foreign exchange dealers, noting that operating a BDC without a licence is a punishable offence under the law. The list of licensed operators will be updated regularly on the CBN website.
TIER 1 LICENSED OPERATORS
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DULA GLOBAL BDC LTD
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TRURATE GLOBAL BDC LTD
TIER 2 LICENSED OPERATORS
A total of 80 additional BDCs hold Tier 2 licences, including ABBUFX BDC LTD, ACHA GLOBAL BDC LTD, ARCTANGENT SWIFT BDC LTD, ASCENDANT BDC LTD, BARACAI BDC LTD, BERGPOINT BDC LTD, BRAVO MODEL BDC LTD, BRIMESTONE BDC LTD, BROWNSTON BDC LTD, BUZZWALLET BDC LTD, among others. The full list is available on the CBN website.
The CBN reiterated that only listed BDCs are legally permitted to operate and urged members of the public to exercise caution when engaging in foreign exchange transactions to avoid fraud or penalties.
