July 14, 2024

he Central Bank of Nigeria (CBN) has released a list of eligible Bureaux De Change (BDCs) operators.

The CBN said all eligible BDCs must adhere to strict guidelines regarding the sale of foreign exchange to end-users.

Currently, the number of BDCs stands at 5,690, according to data from the CBN.

It directed BDCs to sell to end-users with a margin not exceeding one per cent of the purchase rate from the CBN.

To facilitate the process, BDCs are required to make Naira payments to the designated CBN Foreign Currency Deposit Naira Accounts.

Subsequently, they are to submit confirmation of payment along with other necessary documentation for disbursement at the designated CBN branches in Abuja, Awka, Lagos, and Kano.

Half of all the BDC operators in Nigeria are located in Lagos, highlighting the state’s dominance in the foreign exchange (FX) market.

This is followed by the federal capital territory (FCT), Abuja and Kano state

Lagos: 2,958

Abuja: 1,179

Kano: 981

Anambra: 259

Kaduna: 55

Abia: 50

Oyo: 32

Enugu: 25

Rivers: 24

Delta: 21

Sokoto: 18

Imo: 15

Edo: 14

Borno: 11

Bauchi: 7

Kwara: 7

Plateau: 6

Ebonyi: 4

Kebbi: 4

Niger: 3

Ogun: 3

Katsina: 3

Akwa Ibom: 2

Cross River: 2

Gombe: 2

Kogi: 2

Bayelsa: 1

Benue: 1

Nasarawa: 1

Here are some of the unusual names of approved BDC operators in Nigeria:

CCTV BDC LTD

Chelsea BDC LTD

Couple BDC LTD

Cream BDC LTD

Cruising BDC LTD

Day-by-day BDC LTD

Deadlist BDC LTD

Decorum BDC LTD

Deep Freezer BDC LTD

Divine Focus BDC LTD

Ephesians-three-twenty BDC LTD

Four to five BDC LTD

Fourteen February BDC LTD

Fullmoon BDC LTD

Go-well BDC LTD

Gucci BDC LTD

Happy Ends LTD

His Grace BDC LTD

Home Alone BDC LTD

Honeymoon BDC LTD

Hourglass BDC LTD

In-to-in BDC LTD

JJC BDC LTD

Looking and Seeing BDC LTD

Lovers BDC LTD

Pros and Cons BDC LTD

Rice and Beans BDC LTD

Select and Pay BDC LTD

Set up BDC LTD

SIX Six Six BDC LTD

Slow Down BDC LTD

You and Me BDC LTD

Young Free & Single BDC LTD

Zero to Ten BDC LTD

10-20 Times BDC LTD

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