The Central Bank of Nigeria has granted final licences to 82 bureaux de change to operate under the Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria 2024, with effect from 27 November 2025. From that effective date, only bureaux de change listed on the Central Bank of Nigeria’s website are authorised to operate. The Bank will continue to update the online list for public verification and has advised the public to avoid unlicensed foreign exchange operators, noting that operating a bureau de change business without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act 2020. The approved entities are categorised into Tier 1 (2 firms) and Tier 2 (80 firms), and the Bank indicated it will keep the list updated on its website.
Central Bank of Nigeria 2025-12-08
Central Bank of Nigeria grants final licences to 82 bureaux de change under revised 2024 operating guidelines
The Central Bank of Nigeria has issued final licences to 82 bureaux de change under the 2024 Regulatory and Supervisory Guidelines, effective 27 November 2025. Only those listed on the Bank's website are authorised to operate, with unlicensed operations being punishable under the Banks and Other Financial Institutions Act 2020. The approved entities are divided into Tier 1 (2 firms) and Tier 2 (80 firms).