The Central Bank of Nigeria (CBN) has reinforced its ongoing reforms of the Bureau de Change (BDC) sector by organising a two-day capacity-building programme for newly licensed operators, aimed at promoting transparency, professionalism, and compliance in the foreign exchange market.
According to the apex bank’s June 2026 bulletin, the training was coordinated by the Financial Policy and Regulation Department (FPR) in collaboration with other key departments to deepen participants’ understanding of the Revised Regulatory and Supervisory Guidelines for BDC Operations, 2024, and support effective implementation across the industry.
Speaking at the programme in Lagos, the Director of the Financial Policy and Regulation Department, Dr. Rita Sike, described the initiative as a significant milestone in the CBN’s drive to strengthen oversight, improve market conduct, and enhance transparency within the foreign exchange market.
She noted that the emergence of a new generation of licensed BDC operators presents an opportunity to raise operational standards and restore public confidence in the sector. Dr. Sike also stressed that strict adherence to regulatory requirements is critical to safeguarding the integrity and stability of Nigeria’s financial system.
Also addressing participants, the Acting Director of the Development and Financial Institutions Supervision Department, Ali Mairami, urged the operators to apply the knowledge gained during the training to ensure professionalism, accountability, and full compliance in their day-to-day activities.
The programme featured technical sessions on regulatory and operational frameworks facilitated by officials of the CBN and representatives of key institutions, including the Nigerian Financial Intelligence Unit (NFIU), the Federal Airports Authority of Nigeria (FAAN), the Nigeria Inter-Bank Settlement System (NIBSS), and Travelex Nigeria Limited.
The initiative forms part of the CBN’s broader efforts to build a more transparent, resilient, and efficiently regulated foreign exchange market through enhanced industry capacity and stronger compliance standards.
