The Central Bank of Nigeria issued new operational licences to 366 Bureau De Change operators between January 2018 and May 31, 2018, a new report by the apex bank indicated.
The report on the ‘Functions, operational guidelines and compliance for BDC operations in Nigeria’ was prepared by the Other Financial Institutions Supervision Department of the CBN. With the newly licensed operators, it said the number of registered BDCs had thus risen from 3,740 to 4,106.
The report, obtained on Monday by our correspondent, read in part, “Total number of licensed BDCs as of 31st May, 2018 stood at 4,106. It was 3,740 as of 31st December, 2017, signifying an increase of 366.”
According to the report, Lagos has the highest number of the BDCs with 2,123, followed by Kano, Abuja and Anambra states with 806, 745 and 171, respectively. Only 261 BDCs were registered in the remaining states, according to the report.
(Punch)
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