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.
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