CBN: BDC promoters to get refund on deposits, fees with pending applications

July 29, 2021
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From Chinwendu Obienyi

In the aftermath of the Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) has said it will commence the immediate refund of capital deposits and licensing fees to promoters who have pending Bureaux de Change (BDC) licence applications.

In a statement obtained from the CBN’s website on Thursday, the apex bank noted that BDC promoters should forward their requests for refund to the Director, Financial Policy and Regulation department.

The CBN further mandated all Deposit Money Banks (DMBs) to stop accepting instructions from customers to transfer a capital deposit of N35 million to the designated CBN account for the purpose of applying for BDC licences.

Meanwhile, Nigeria’s Naira which opened today’s trading session at N522 per $1 dropped to N520 per $1 as at midday at the parallel market.

Breaking News, Nigerians can now work in Nigeria and get paid in US Dollars, click hereto apply today.

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