CBN Releases Full List of 82 Licensed BDC Operators — Here’s What Changed

Nigeria’s foreign exchange market just got its biggest clean-up in years. The Central Bank of Nigeria (CBN) has officially released the final list of 82 fully licensed Bureau De Change (BDC) operators, marking a new era of tighter regulation, fewer players, and far more scrutiny.

The licenses, effective 27 November 2025, were issued under BOFIA 2020 and the revised Regulatory and Supervisory Guidelines for BDC Operations. This means that the CBN wants only transparent, well-capitalised, rule-abiding operators in the system.

For Nigerians who buy or sell FX, this is you sign to stick to only CBN-approved BDC operators or risk getting scammed.

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Why Only 82 BDCs Made the Cut

The CBN’s spokesperson, Hakama Sidi Ali, said the approvals followed a strict review process aimed at reducing fraud, improving documentation, and eliminating the “come-as-you-are” parallel-market culture.

The message from the apex bank is firm: “Only Bureaux De Change listed on the Bank’s website are authorised to operate.”

Any BDC that failed to meet the updated requirements automatically lost its licence. Meanwhile, operating without a licence is now a punishable offence under Section 57 of BOFIA 2020. This crackdown follows years of concerns about illegal FX dealers feeding distortion, speculation, and illicit flows.

What This Means for Everyday FX Users

If you’re travelling, receiving payments from outside Nigeria, or exchanging dollars for business, this new list helps you avoid unlicensed traders who:

• inflate rates,
• facilitate shady transactions, or
• disappear with customers’ money.

The CBN will keep updating the list on its website, but here is the current official register of approved operators.

Full List of CBN-Approved BDC Operators (82 Total)

Tier 1

1. DULA GLOBAL BDC LTD
2. TRURATE GLOBAL BDC LTD

Tier 2

1. ABBUFX BDC LTD
2. ACHA GLOBAL BDC LTD
3. ARCTANGENT SWIFT BDC LTD
4. ASCENDANT BDC LTD
5. BARACAI BDC LTD
6. BERGPOINT BDC LTD
7. BRAVO MODEL BDC LTD
8. BRIMESTONE BDC LTD
9. BROWNSTON BDC LTD
10. BUZZWALLET BDC LTD
11. CASHCODE BDC LTD
12. CHATTERED BDC LTD
13. CHRONICLES BDC LTD
14. COOL FOREX BDC LTD
15. CORPORATE EXCHANGE BDC LTD
16. COURTESY CURRENCY BDC LTD
17. DANYARO BDC LTD
18. DASHAD BDC LTD
19. DEVAL BDC LTD
20. DFS BDC LTD
21. EASY CASH BDC LTD
22. ELELEM BDC LTD
23. E-LIOYDS BDC LTD
24. ELOGOZ BDC LTD
25. ENOUF BDC LTD
26. EVER JOJ GOLD BDC LTD
27. EXCEL RIJIYA FOREX BDC LTD
28. FABFOREX BDC LTD
29. FELLOM BDC LTD
30. FINE BDC LTD
31. FOMAT BDC LTD
32. GENELO BDC LTD
33. GENTLE BREEZE BDC LTD
34. GRACEFUL GLORY AND HUMILITY BDC LTD
35. GREENGATE BDC LTD
36. GREENVAULT BDC LTD
37. HAZON CAPITAL BDC LTD
38. HIGH-POINT BDC LTD
39. I & I EXCHANGE BDC LTD
40. IBN MARYAM BDC LTD
41. JOURNEY WELL BDC LTD
42. KEEPERS BDC LTD
43. KHADHOUSE SOLUTIONS BDC LTD
44. KIMMELFX BDC LTD
45. KINGSOFT ATLANTIC BDC LTD
46. M.S. ALHERI BDC LTD
47. MASTERS BDC LTD
48. MCMENA BDC LTD
49. MKOO BDC LTD
50. MKS BDC LTD
51. MR J GOLF BDC LTD
52. MUSDIQ BDC LTD
53. MZ FOREX BDC LTD
54. NEJJ BDC LTD LTD
55. NETVALUE BDC LTD
56. NEW WAVE BDC LTD
57. NOTABLE AND KINGSTON BDC LTD
58. PILCROW BDC LTD
59. RAPID BDC LTD
60. RIGHTWAY BDC LTD
61. RWANDA BDC LTD
62. SABLES BDC LTD
63. SAFETRANZ BDC LTD
64. SAMFIK BDC LTD
65. SEVENLOCKS BDC LTD
66. SHAPEARL BDC LTD
67. SIMTEX BDC LTD
68. SOLID WHITE BDC LTD
69. ST. NICHOLAS GLOBAL BDC LTD
70. TOPFIRST UNIQUE MULTICHOICE BDC LTD
71. TOPGATE BDC LTD
72. TRAVELLER’S CHOICE BDC LTD
73. TUCA GLOBAL BDC LTD
74. TURBOVA BDC LTD
75. TURN-UP BDC LTD
76. UNIGO BDC LTD
77. VICTORY AHEAD BDC LTD
78. WHITEWAY WWW BDC LTD
79. YUND GLOBAL LINK BDC LTD
80. ZAMAD FOREX BDC LTD

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Israel Okunaya

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