BDC Recapitalisation: First Batch Of Compliant Operators Cleared As CBN Provides Clarity
By Rashidat O. Okunlade
The Bureau De Change (BDC) operators listed in the latest update are the first set of applicants to successfully meet the Central Bank of Nigeria’s (CBN) new recapitalisation requirements, which mandate a minimum capital base of ₦500 million for Tier Two BDCs and ₦2 billion for Tier One operators. The compliance process spans the past eighteen months.
According to industry stakeholders, the recapitalisation exercise remains ongoing, with a significant number of applications still undergoing evaluation as they await final approval and licensing from the CBN.
This development has brought much-needed clarity to the implementation of the CBN’s revised guidelines, following earlier concerns about the slow pace and perceived opacity of the process. The release of the first approved list is expected to boost investor confidence and strengthen positive market sentiment.
The prolonged silence surrounding the status of applications had contributed to heightened market volatility and uncertainty. With the latest update, investors are expressing relief, a development analysts say could help the CBN curb volatility—particularly at a period when year-end spending, popularly known as “Detty December”, is yet to reflect positively on the market.
Industry leaders congratulated the BDCs that have successfully complied with the new regulations and urged patience among operators whose applications are still being processed, despite meeting the new capital thresholds.
They reiterated their conviction that BDCs remain a vital instrument in the CBN’s foreign exchange management architecture, playing a critical role in deepening liquidity, stabilising rates, and ensuring orderly conduct in the retail segment of the forex market.
