CBN reduces Bureau de Change dealers after revocation of licenses
The Central Bank of Nigeria (CBN) has cut down the number of Bureau de Change (BDC) dealers to 2,991 from the over 5,689 earlier approved.
On Wednesday, the CBN published a list of approved BDC’s which means the licenses of 2,698 BDCs have been revoked.
In 2022 the CBN published a similar which approved 5,689 black market dealers.
The number of operators has experienced substantial growth, increasing from 74 in 2005 to 5,689 in 2021.
