CBN Revokes Operational Licenses Of 4,173 BDCs

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The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change Operators, accusing the affected institutions of failing to observe regulatory provisions.

This was disclosed in a statement on Friday by the bank’s Acting Director, Corporate Communications, Sidi Ali Hakama.

According to the apex bank, the move is part of efforts to restore confidence in the nation’s foreign exchange market.

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