BDCs Struggle to Meet Recapitalization Deadline Despite Central Bank Extension

Bureau De Change operators have failed to meet the N2bn recapitalisation requirement, despite a recent extension granted in December.

The Bureau De Change operators in Nigeria continue to face challenges in meeting their fresh recapitalisation threshold of N2 billion, despite being granted an extension in December. This deadline was set by the Central Bank of Nigeria as part of a regulatory requirement aimed at strengthening the sector's stability and resilience. The extended period is intended to give operators more time to bolster their capital reserves and meet the required standards. However, it appears that many are still struggling to comply with the new requirements.