The Central Bank of Nigeria (CBN) has directed all Bureau de Change operators (BDCs) in the country to reapply for operational licences in order to continue to operate in the parallel forex market.
This was announced on Wednesday in a circular issued by the apex bank which was signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa.
The BDCs were also required to meet the capital requirements for their licence category within six months.
