Amanze Chinonye
The Central Bank of Nigeria (CBN) has granted final operating licences to 82 Bureaux De Change (BDCs) under its revised 2024 Regulatory and Supervisory Guidelines, marking one of the most significant clean-ups of the retail foreign exchange market in recent years.
The approvals, which took effect on November 27, 2025, followed a rigorous compliance and verification process anchored on new capital thresholds, ownership structure requirements, and strengthened anti–money laundering safeguards. The announcement was contained in a statement issued on Monday by the Acting Director of Corporate Communications, Hakama Sidi-Ali.
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According to the apex bank, only the BDCs listed on its official website are authorised to operate in Nigeria. Members of the public, businesses, and financial institutions have been advised to verify the licence status of any operator before engaging in foreign exchange transactions.
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Sidi-Ali reiterated that operating a BDC without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020, cautioning that the Bank will enforce compliance across the market.
“To promote transparency and protect consumers, the Central Bank will continue to update its website with Bureaux De Change that hold valid operating licences,” the statement noted.
As part of the transparency push, the CBN published the full list of newly approved BDCs, dividing them into two operational categories: Tier 1 and Tier 2.
Tier 1 Licensed BDCs
1. Dula Global BDC Ltd
2. Trurate Global BDC Ltd
Tier 2 Licensed BDCs
1. AbbuFX BDC Ltd
2. Acha Global BDC Ltd
3. Arctangent Swift BDC Ltd
4. Ascendant BDC Ltd
5. Baracai BDC Ltd
6. Bergpoint BDC Ltd
7. Bravo Model BDC Ltd
8. Brimestone BDC Ltd
9. Brownston BDC Ltd
10. Buzzwallet BDC Ltd
11. Cashcode BDC Ltd
12. Chattered BDC Ltd
13. Chronicles BDC Ltd
14. Cool Forex BDC Ltd
15. Corporate Exchange BDC Ltd
16. Courtesy Currency BDC Ltd
17. Danyaro BDC Ltd
18. Dashad BDC Ltd
19. Deval BDC Ltd
20. DFS BDC Ltd
21. Easy Cash BDC Ltd
22. Elelem BDC Ltd
23. E-Lioyds BDC Ltd
24. Elogoz BDC Ltd
25. Enouf BDC Ltd
26. Ever Joj Gold BDC Ltd
27. Excel Rijiya Forex BDC Ltd
28. Fabforex BDC Ltd
29. Fellom BDC Ltd
30. Fine BDC Ltd
31. Fomat BDC Ltd
32. Genelo BDC Ltd
33. Gentle Breeze BDC Ltd
34. Graceful Glory and Humility BDC Ltd
35. Greengate BDC Ltd
36. Greenvault BDC Ltd
37. Hazon Capital BDC Ltd
38. High-Point BDC Ltd
39. I & I Exchange BDC Ltd
40. Ibn Maryam BDC Ltd
41. Journey Well BDC Ltd
42. Keepers BDC Ltd
43. Khadhouse Solutions BDC Ltd
44. Kimmelfx BDC Ltd
45. Kingsoft Atlantic BDC Ltd
46. M.S. Alheri BDC Ltd
47. Masters BDC Ltd
48. McMena BDC Ltd
49. Mkoo BDC Ltd
50. MKS BDC Ltd
51. Mr J Golf BDC Ltd
52. Musdiq BDC Ltd
53. MZ Forex BDC Ltd
54. Nejj BDC Ltd
55. Netvalue BDC Ltd
56. New Wave BDC Ltd
57. Notable and Kingston BDC Ltd
58. Pilcrow BDC Ltd
59. Rapid BDC Ltd
60. Rightway BDC Ltd
61. Rwanda BDC Ltd
62. Sables BDC Ltd
63. Safetranz BDC Ltd
64. Samfik BDC Ltd
65. Sevenlocks BDC Ltd
66. Shapearl BDC Ltd
67. Simtex BDC Ltd
68. Solid White BDC Ltd
69. St. Nicholas Global BDC Ltd
70. Topfirst Unique Multichoice BDC Ltd
71. Topgate BDC Ltd
72. Traveller’s Choice BDC Ltd
73. Tuca Global BDC Ltd
74. Turbova BDC Ltd
75. Turn-Up BDC Ltd
76. Unigo BDC Ltd
77. Victory Ahead BDC Ltd
78. Whiteway WWW BDC Ltd
79. Yund Global Link BDC Ltd
80. Zamad Forex BDC Ltd
The latest approvals signal a continuation of the CBN’s ongoing foreign exchange reforms aimed at restoring order to the retail FX segment, curbing illicit market activities, and strengthening public confidence in the system.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
