{"id":166677,"date":"2025-06-12T21:38:39","date_gmt":"2025-06-12T20:38:39","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbn-did-not-extend-recapitalization-deadline-for-bdcs"},"modified":"2025-06-12T22:47:56","modified_gmt":"2025-06-12T21:47:56","slug":"cbn-did-not-extend-recapitalization-deadline-for-bdcs","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs","title":{"rendered":"CBN Did Not Extend Recapitalization Deadline for BDCs"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Central Bank of Nigeria said it did not extend the deadline for the recapitalization of legal Bureau De Change Operators in the country\u2019s financial system.<\/p>\n<p>The apex bank\u2019s acting director of the Corporate Communications Department, Hakama Sidi Ali, made this clarification in a statement on Wednesday.<\/p>\n<p>This comes amid a report that emanated from BDC operators that the apex bank extended its recapitalization deadline by six months to 31st December 2025.<\/p>\n<p>However, the CBN on Wednesday dismissed that claim, noting that the BDC operators\u2019 recapitalization deadline elapsed on June 3, 2025.<\/p>\n<p>\u201cThe Bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025,\u201d the statement reads in part.<\/p>\n<p>The president of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, had earlier maintained that the deadline for members\u2019 recapitalization remains June 3, 2025.<\/p>\n<p>In May 2024, CBN issued new operational guidelines for BDCs, effective June 3, 2024, directing all existing BDCs to reapply for new licences.<\/p>\n<p>Accordingly, the guideline makes it mandatory for BDCs with Tier 1 licences to have a capital base of N2 billion, while those with Tier 2 licences need N500 million, with non-refundable licence fees of N5 million and N2 million, respectively.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Central Bank of Nigeria said it did not extend the deadline for the recapitalization of legal Bureau De Change Operators in the country\u2019s financial system. The apex bank\u2019s acting director of the Corporate Communications Department, Hakama Sidi Ali, made this clarification in a statement on Wednesday. This comes amid a report [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":166676,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28,2660],"tags":[503,254],"class_list":["post-166677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-cbn","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBN Did Not Extend Recapitalization Deadline for BDCs - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria said it did not extend the deadline for the recapitalization of legal Bureau De Change Opera ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN Did Not Extend Recapitalization Deadline for BDCs\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria said it did not extend the deadline for the recapitalization of legal Bureau De Change Opera ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-12T20:38:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-12T21:47:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/06\/sm_1749752336.514415.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN Did Not Extend Recapitalization Deadline for BDCs\",\"datePublished\":\"2025-06-12T20:38:39+00:00\",\"dateModified\":\"2025-06-12T21:47:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs\"},\"wordCount\":214,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/06\/sm_1749752336.514415.jpg\",\"keywords\":[\"CBN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-did-not-extend-recapitalization-deadline-for-bdcs\",\"name\":\"CBN Did Not Extend Recapitalization Deadline for BDCs - 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