The Central Bank of Nigeria (CBN) has directed Bureau De Change (BDC) operators to re-apply for new licenses
This was revealed on Wednesday in a revised guideline for BDC operations, signed by Haruna Mustafa, director of the Financial Policy and Regulation Department at the bank.
The regulator also directed that BDCs meet the minimum capital requirements for the license category applied for within six months from the effective date of the guidelines.
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