Lagos - The Central Bank of Nigeria (CBN) is set to revoke the operating licence of any Bureau De Change (BDC) operator who fails to comply with the new capital requirements by the close of work on Thursday, July 31.
While some have complied with the new requirements, there are indications that many operators may not meet the deadline, reports ThisDay.
The new capital guidelines which seek to reposition the foreign exchange market increased the capital base for BDCs from N10 million to N35 million and a caution deposit of N35 million.
The apex bank had earlier extended the deadline from July 15 to July 31, 2014, to enable many operators to comply with the new capital requirements.
Read more at ThisDay.
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