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ARTICLE · 19 AUGUST 2025

Recapitalisation Options For BDC Operators: What The New CBN Guidelines Mean

Duale, Ovia & Alex-Adedipe
Duale, Ovia & Alex-Adedipe
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Duale, Ovia & Alex-Adedipe

Duale, Ovia & Alex-Adedipe

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In this article, Simisola Eyisanmi and Bankole Oke explore the recapitalisation strategies available to BDCs, from equity and debt financing to mergers and retained earnings, within the context of Nigeria's evolving capital market.

NigeriaFinance and Banking
Simisola Eyisanmi
Simisola Eyisanmi
Bankole Oke
Bankole Oke

Following the release of the 2024 Guidelines for Bureau De Change (BDC) Operations, the Central Bank of Nigeria has introduced higher capital thresholds, revised licensing tiers, and a compliance deadline of June 3, 2025.

In this article, Simisola Eyisanmi and Bankole Oke explore the recapitalisation strategies available to BDCs, from equity and debt financing to mergers and retained earnings, within the context of Nigeria's evolving capital market.

Introduction

Throughout 2024, the Central Bank of Nigeria (CBN) implemented significant reforms in the Nigerian foreign exchange market by introducing several regulatory guidelines aimed at restructuring the operations of market participants. As part of these strategic reforms, the CBN sought to reposition the Bureau De Change (BDC) sub-sector to fulfill its envisioned role in the foreign exchange market.

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