Business

BREAKING: CBN to increase BDC minimum share capital to N2 billion for Tier 1 license

The Central Bank of Nigeria (CBN) is mulling an increase in the share capital of Bureau De Change (BDC) operators to N2 billion and N500 million for Tier 1 and Tier 2 licenses.


It was previously N35 million for a general license.


This was contained in the draft REVISED REGULATORY AND SUPERVISORY GUIDELINES FOR BUREAU DE CHANGE OPERATIONS IN NIGERIA published by the apex bank.