CBN Deepens BDC Reforms, Trains New Operators • Channels Television

The Central Bank of Nigeria (CBN) said it has intensified efforts to build a more transparent, resilient, and professionally managed foreign exchange market through a two-day capacity-building programme for newly licensed Bureau de Change (BDC) operators.

The programme was held in Lagos, according to its June 2026 bulletin.

Coordinated by the Financial Policy and Regulation Department (FPR) with other key Departments, the engagement was designed to enhance understanding of the Revised Regulatory and Supervisory Guidelines for BDC Operations, 2024, and to ensure effective implementation across the industry.

The Director, FPR, Dr Rita Sike, described the programme as a major step towards advancing reforms to promote transparency, strengthen oversight, and improve market conduct in the
foreign exchange market.

She emphasised that the new generation of licensed operators offers an opportunity to raise standards and build public confidence in the sector.

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Dr Sike also stressed the importance of compliance, noting that it is essential not only
for meeting regulatory requirements but also for maintaining the integrity and stability of Nigeria’s financial system.

In his remarks, Acting Director, Development and Financial Institutions Supervision Department, CBN, Ali Mairami, urged participants to apply the knowledge gained to ensure professionalism, accountability, and compliance in their operations.

The programme featured technical sessions on key regulatory and operational frameworks, delivered by the CBN and other stakeholders, including the Nigerian Financial Intelligence Unit (NFIU), Federal Airports Authority of Nigeria (FAAN), Nigeria Inter-Bank Settlement System (NIBSS), and Travelex Nigeria Limited.