The Central Bank of Nigeria (CBN) has granted final operating licences to 82 Bureaux De Change (BDC) operators under its revised regulatory framework, reinforcing warnings against transactions with unlicensed dealers.
Acting Director of Corporate Communications, Hakama Sidi‑Ali, confirmed in a statement on Monday that the licences took effect on November 27, 2025, in line with the 2024 Regulatory and Supervisory Guidelines for BDC Operations.
The guidelines require operators to meet capital thresholds and strict regulatory conditions before approval.
“The Central Bank of Nigeria, in exercise of its powers under the Banks and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Guidelines, has granted final licences to 82 Bureaux De Change to operate with effect from November 27, 2025,” the statement read.
The apex bank stressed that only BDCs listed on its official website are considered fully licensed. It urged Nigerians to verify the status of any operator before engaging in foreign exchange transactions.
“While the CBN will continue to update the list of Bureaux De Change with valid operating licences for public verification on our website, the Bank advises the general public to avoid dealing with unlicensed Foreign Exchange Operators,” the statement warned.
Operating a BDC without a valid licence is an offence under Section 57(1) of BOFIA 2020.
The CBN confirmed that legal action would be taken against non‑compliant operators.
Licensed Operators
The newly licensed firms include:
Tier 1
- Dula Global BDC Ltd
- Trurate Global BDC Ltd
Tier 2
- Abbufx BDC Ltd
- Acha Global BDC Ltd
- Arctangent Swift BDC Ltd
- Ascendant BDC Ltd
- Baracai BDC Ltd
- Bergpoint BDC Ltd
- Bravo Model BDC Ltd
- Brimestone BDC Ltd
- Brownston BDC Ltd
- Buzzwallet BDC Ltd
- Cashcode BDC Ltd
- Chattered BDC Ltd
- Chronicles BDC Ltd
- Cool Forex BDC Ltd
- Corporate Exchange BDC Ltd
- Courtesy Currency BDC Ltd
- Danyaro BDC Ltd
- Dashad BDC Ltd
- Deval BDC Ltd
- DFS BDC Ltd
- Easy Cash BDC Ltd
- Elelem BDC Ltd
- E‑Lioyds BDC Ltd
- Elogoz BDC Ltd
- Enouf BDC Ltd
- Ever Joj Gold BDC Ltd
- Excel Rijiya Forex BDC Ltd
- Fabforex BDC Ltd
- Fellom BDC Ltd
- Fine BDC Ltd
- Fomat BDC Ltd
- Genelo BDC Ltd
- Gentle Breeze BDC Ltd
- Graceful Glory and Humility BDC Ltd
- Greengate BDC Ltd
- Greenvault BDC Ltd
- Hazon Capital BDC Ltd
- High‑Point BDC Ltd
- I & I Exchange BDC Ltd
- Ibn Maryam BDC Ltd
- Journey Well BDC Ltd
- Keepers BDC Ltd
- Khadhouse Solutions BDC Ltd
- Kimmelfx BDC Ltd
- Kingsoft Atlantic BDC Ltd
- M.S. Alheri BDC Ltd
- Masters BDC Ltd
- Mcmena BDC Ltd
- Mkoo BDC Ltd
- MKS BDC Ltd
- Mr J Golf BDC Ltd
- Musdiq BDC Ltd
- MZ Forex BDC Ltd
- Nejj BDC Ltd
- Netvalue BDC Ltd
- New Wave BDC Ltd
- Notable and Kingston BDC Ltd
- Pilcrow BDC Ltd
- Rapid BDC Ltd
- Rightway BDC Ltd
- Rwanda BDC Ltd
- Sables BDC Ltd
- Safetranz BDC Ltd
- Samfik BDC Ltd
- Sevenlocks BDC Ltd
- Shapearl BDC Ltd
- Simtex BDC Ltd
- Solid White BDC Ltd
- St. Nicholas Global BDC Ltd
- Topfirst Unique Multichoice BDC Ltd
- Topgate BDC Ltd
- Traveller’s Choice BDC Ltd
- Tuca Global BDC Ltd
- Turbova BDC Ltd
- Turn‑Up BDC Ltd
- Unigo BDC Ltd
- Victory Ahead BDC Ltd
- Whiteway WWW BDC Ltd
- Yund Global Link BDC Ltd
- Zamad Forex BDC Ltd
The licensing exercise is part of CBN’s effort to sanitise Nigeria’s foreign exchange market, which has long been plagued by unregulated operators. This could help restore confidence, reduce arbitrage, and strengthen transparency in FX transactions.
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