CBN revokes licences of 4,173 BDC operators
The Central Bank of Nigeria (CBN) says it has revoked the licences of over 4,000 Bureau De Change operators violating operation regulations.
The apex bank “has revoked the licenses of 4,173 Bureaux De Change Operators,” Sidi Ali, Hakama, spokesperson for CBN, announced in a statement on Friday.
The CBN explained that “affected institutions failed to observe its regulations” in their operations.
According to the statement, the regulation includes payment of all necessary fees, including licence renewal, within the stipulated period in line with the guidelines; rendition of returns in line with the guidelines; compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AML); countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.
This comes amid an economic downturn that has seen the Nigerian naira battered in the international market.
In the past weeks, federal authorities clamped down on Bureau De Change operators in a bid to curtail the declining naira.
Similarly, the Nigerian government has blocked Binance and other cryptocurrency platforms on allegations that they are aiding currency speculators and manipulators.
On Thursday, two officials of Binance invited to the country by the Tinubu-led government were detained.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 1
Tinubu cajoling Nigerians with money, luxury cars after ruining economy, stealing public funds, ADC allegesÂ
The party said President Bola Tinubu has failed Nigerians.
NationWide
Court rejects IG’s bench warrant request against journalist Fisayo Soyombo in Orelope-Adefulire’s cyberstalking suit
The judge noted that since the journalist had not been brought before the court previously, issuing a bench warrant was impossible.
Africa
Kenya discharges last Ebola patient, begins 42-day countdown to end outbreak
Kenya confirmed its first case of Bundibugyo virus disease on October 6, 2026.
Health
WHO identifies critical gaps in Africa’s health information systems
The World Health Organisation has revealed critical gaps in Africa’s health information systems.
Heading 2
Uba Sani eulogies deputy’s late father at three-day prayer
Mr Sani stated, “His death will affect not only his immediate family but all of us who have come to regard him as our father.”
World
Ethiopian, Turkish presidents explore ways to strengthen bilateral ties ahead of COP32
The leaders explored ways to deepen cooperation between their countries, building on their existing partnership and shared priorities.
