AML/CFT

  • economyBDC: CBN mandates sellers above $10,000 to declare sources

    BDC: CBN mandates sellers above $10,000 to declare sources

    The Central Bank of Nigeria (CBN) has mandated foreign exchange sellers to the Bureau de Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources. Haruna Mustapha, Director, Financial Policy and Regulation Department of the CBN, said this in a revised regulatory framework to curtail excesses of BDCs and check uncertainty in the foreign exchange…

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  • economyCBN issues revised draft regulatory and supervisory guidelines for BDCs, stakeholders

    CBN issues revised draft regulatory and supervisory guidelines for BDCs, Stakeholders

    The Central Bank of Nigeria (CBN) has issued a draft of revised regulatory and supervisory guidelines for all Bureau de Change (BDC) operators and stakeholders in the financial services industry. The guidelines, which seek to enhance the regulatory framework for BDC operations as part of ongoing reforms of the Nigerian foreign exchange market, were contained in a circular on Friday.…

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