The Central Bank of Nigeria (CBN) has published the list of 82 Bureaux de Change (BDCs) granted full operating licences under the Revised Regulatory and Supervisory Guidelines for BDCs 2024.
The approved operators comprise two Tier-1 BDCs (Dula Global BDC Ltd and Trurate Global BDC Ltd), which are permitted to engage in wholesale foreign exchange transactions and maintain a higher minimum capital of ₦2 billion each, and 80 Tier-2 BDCs with a minimum capital of ₦500 million, focused primarily on retail sales.
The announcement, signed by Acting Director of Corporate Communications Hakama Sidi Ali, states that licences will take effect from 27 November 2025. The CBN published this update in June 2024, specifying that only Bureaux de Change listed on its website will be authorised to operate starting from the effective date.
The CBN further pledged to update the list of Bureaux De Change with valid operating licences for public verification on its websites and cautioned the general public to avoid dealing with unlicensed Foreign Exchange Operators.
The Financial Analysts forecast that with the CBN publishing the approved BDCs list, this will enhance the forex market stability and will help to minimise the forex arbitrage and currency speculations as the CBN continues the monetary market reforms.
According to the CBN, operating a Bureaux De Change Business without a valid licence is a punishable offence under Section 57(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
The Full List of the Newly Approved Bureaux De Change
Tier 1
1 Dula Global Bdc Ltd
2 Trurate Global Bdc Ltd
Tier 2
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 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
