The most widely read newspaper in Nigeria
29 July 2021
Sequel to the decision of the Central Bank of Nigeria to stop the licensing of Bureau de Change operators, the apex bank has announced that it will commence the immediate reimbursement of capital deposits and licensing fees to BDC promoters with pending license applications. The bank disclosed this in a circular with the reference number: FPRIDIRIPUBICIR/001/019 issued on Thursday, noting that the capital deposits and licensing fees amount to N35 million and N1 million, respectively.It read, “Further to the Monetary Policy Committee briefing of July 27 2021 the Central Bank of Nigeria will commence the immediate refund of capital deposits and licensing fees to promoters who have pending Bureau de Change license applications with the CBN.
In line with the announcement, the CBN instructed the promoters as follows: “Such BDC promoters should forward their requests for the refund in writing to the Director Financial Policy and Regulation Department Central Bank of Nigeria, Abuja.”
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