BREAKING: CBN to increase BDC minimum share capital to N2 billion for Tier 1 license

The Central Bank of Nigeria (CBN) is mulling an increase in the share capital of Bureau De Change (BDC) operators to N2 billion and N500 million for Tier 1 and Tier 2 licenses.

It was previously N35 million for a general license.

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The new guidelines contain several new changes to the guidelines for BDC operations in the country. If endorsed, the new guidelines will be effective at a date decided by the CBN.

Minimum Capital: Under the minimum capital requirements, the central bank is introducing a two-tier license for BDC operators in the country……………………CONTINUE READING

 

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