The Central Bank of Nigeria (CBN) has granted operating licences to 82 Bureau-De-Change (BDC) firms nationwide, in a move aimed at regularising the foreign-exchange sector and improving access to foreign currency.
Under the licensing scheme, these BDCs are authorised to conduct foreign-exchange transactions legally, bringing previously unregulated operators under formal supervision.
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CBN cautioned the public to deal only with licensed operators and warned that unlicensed or informal forex dealers will face sanctions.
The bank also said it will monitor compliance closely.
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