Concerned about the Central Bank of Nigeria’s (CBN) new Bureau De Change (BDC) recapitalization policy, the Arewa Economic Forum (AEF), a prominent economic and advocacy think-tank in northern Nigeria, has called it “economically exclusionary and regionally lopsided.”
According to Daily Trust, the Central Bank of Nigeria (CBN) declared in 2024 that Bureau De Change (BDC) operators had until June 3, 2025, to recapitalize if they wished to continue operating.According to CBN, BDCs must comply with new minimum capital requirements, which include N2 billion for Tier-1 operators and N500 million for Tier-2 operators, as part of the updated framework that was unveiled in February 2024.Alhaji Ibrahim Shehu Dandakata, the chairman of AEF, said during a press conference in Abuja that the increased capital criteria may exclude thousands of legal Northern BDC operators, many of whom have supported the subsector for decades.
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Hmmmm…..Nepotism cannot just end in Nigeria.
But the wahala of those Northerners too much…