Alert: Central Bank of Nigeria Circular FPR/LAD/INT/BDC/01/095
Title: Circular for BDC Refunds
Summary: Financial institutions are requested to refund capital deposits and licensing fees to promoters with pending Bureaux de Change (BDC) license applications, as stated in the recent briefing by the Central Bank of Nigeria (CBN). BDC promoters must submit a written request accompanied by the necessary documents, including the telex copy of the capital deposit, account details for the refund, and the bank draft/telex for the licensing fee if applicable. Deposit Money Banks are also instructed to stop accepting instructions to transfer capital deposits for BDC license applications.
Posted on: Thursday, July 29, 2021
Download: FPR/LAD/INT/BDC/01/095