Nigeria’s Central Bank Withdraws 236 Bureaux de Change Licences

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VENTURES AFRICA- The Central Bank of Nigeria (CBN) has revoked the licenses of 236 Bureau de Change operators in the country.

This was made known in a circular issued by the apex bank on Wednesday titled: “Revocation of operating licenses of 236 BDCs”, which was signed by the Director, Trade and Exchange Department, Batari Musa.

The operating licenses of the affected bureau de change operators had been revoked with effect from January 14, 2013, it said.

“Consequently, all authorised dealers, buyers and the general public are advised that any foreign exchange transactions, including sale to and purchases from these BDCs, as well as transfer of funds through them and or on their behalf is illegal.”

The affected operators are AFA BDC, AIA BDC, Acclaim BDC, Africsn Sheltar BDC, All States BDC, Afriinvest BDC, Company Limited, AMD BDC, Amjigar BDC, Amx BDC, Bedford BDC, Arijo BDC, Altrays BDC, Bellview Travels Nigeria Limited BDC, Celtic Finance Ltd BDC, Chamo BDC, Chimex BDC, Circulated BDC and Compass Investment and Finance Limited BDC.

Others include IPMS Exchange House BDC, Fayce BDC, Johnes Management Consult BDC,Kano Agency BDC, Lana Securities and Investment Ltd BDC, Lindel Associates BDC, Malina BDC, Massaba BDC, Mall BDC, Money Mart BDC, Core Trust BDC, Crierion BDC, , Naira Cheque BDC, Negris BDC, NISEL BDC, OMF BDC, Optimal BDC, PRIME Links BDC , Dabi BDC, Dan Azumi BDC, Danco BDC, Dekol BDC, Executive BDC, FAIDA BDC, FCT BDC, FOREX TRUST BDC, FOREX CHANGE LTD BDC, Forex Field BDC, FOREX Point BDC, Gbyas BDC, Gilt Edge Finance Limired, Golden Trust BDC, Goldfinger Limited BDC, Halad BDC, Hankasura BDC, Hold Trust BDC, Holmes Investment Company Limited BDC, International Currencies BDC, Multigold BDC.