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.
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
