CBN revokes operating licenses of 4,173 BDCs
The Central Bank of Nigeria (CBN) has revoked the operational licences of 4,173 Bureaux De Change operators in the country.
The bank said the affected institutions failed to pay for licence renewal, submit returns or comply with CBN directives on anti-money laundering, countering financing of terrorism, and counter proliferation financing regulations.
READ ALSO: CBN resumes sale of dollars to BDCs
The CBN said it is revising the regulatory guidelines of BDCs.
The move is part of efforts to restore confidence in the nation’s foreign exchange market.
More details later…
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The Central Bank of Nigeria (CBN) has revoked the operational licences of 4,173 Bureaux De Change operators in the country.
The bank said the affected institutions failed to pay for licence renewal, submit returns or comply with CBN directives on anti-money laundering, countering financing of terrorism, and counter proliferation financing regulations.
READ ALSO: CBN resumes sale of dollars to BDCs
The CBN said it is revising the regulatory guidelines of BDCs.
The move is part of efforts to restore confidence in the nation’s foreign exchange market.
More details later…
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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