The Central Bank of Nigeria (CBN) has reportedly granted an extension to Bureau De Change (BDC) operators, moving the recapitalisation deadline to December 31, 2025.
This update emerged from discussions within BDC operators’ communication platforms after the second recapitalisation deadline—previously set for June 3, 2025—passed without full compliance.
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Originally, the CBN had fixed the deadline for December 3, 2024. However, in response to stakeholder feedback and challenges faced by operators, the apex bank extended the deadline by six months to June 2025, and has now allowed further time for compliance.
Aminu Gwadabe, President of the Association of Bureaux De Change Operators of Nigeria (ABCON), acknowledged that adherence to the new capital requirements remains significantly low.
The recapitalisation framework, which took effect in February 2024, introduced a dual-tier licensing structure. Under this policy, Tier-1 BDCs are required to secure a minimum capital base of ₦2 billion, while Tier-2 operators must raise at least ₦500 million to retain their licenses.
Tier-1 license holders are permitted to operate across the entire country with wider operational scope, whereas Tier-2 licensees are confined to conducting business within a single state.
 has granted an extension to Bureau De Change (BDC) operators, moving the recapitalisation deadline to December 31, 2025.){kind=link}