The Central Bank of Nigeria, CBN, has issued regulatory guidelines for bureau de change operations after consultation with stakeholders.
Following the consultation, the CBN, on Wednesday, made changes to the guidelines it released in February this year, one of which is the removal of the mandatory caution deposit of N200 million for tier-1 licence holders. However,Â
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Additionally, the apex bank removed the N50 million deposit for tier-2 licence holders, and also withdrew the non-refundable annual licence renewal fee of N5 million and N1 million for tier-1 and tier-2 BDCs, respectively.
