Central bank targets improved transparency, compliance and professionalism under revised regulatory framework…..
The Central Bank of Nigeria (CBN) says it is strengthening efforts to create a more transparent, resilient and professionally managed foreign exchange market through a capacity-building programme for newly licensed Bureau de Change (BDC) operators.
The two-day training programme was held in Lagos as part of the implementation of the Revised Regulatory and Supervisory Guidelines for BDC Operations, 2024, according to the CBN’s June 2026 bulletin.
The programme was coordinated by the Financial Policy and Regulation Department (FPR), in collaboration with other key departments of the apex bank, to improve operators’ understanding of regulatory requirements and ensure effective compliance across the sector.
Director of the FPR, Dr Rita Sike, described the initiative as a significant step in advancing ongoing reforms aimed at improving transparency, strengthening oversight and promoting better market conduct within the foreign exchange sector.
She said the emergence of a new generation of licensed BDC operators provides an opportunity to raise industry standards and rebuild public confidence.
Sike also highlighted the importance of regulatory compliance, noting that adherence to established rules is critical not only for meeting statutory obligations but also for protecting the integrity and stability of Nigeria’s financial system.
Acting Director of the CBN’s Development and Financial Institutions Supervision Department, Ali Mairami, urged participants to apply the knowledge gained from the programme to promote professionalism, accountability and compliance in their businesses.
The training featured technical sessions on regulatory and operational frameworks delivered by officials from the CBN and other stakeholders, including the Nigerian Financial Intelligence Unit (NFIU), Federal Airports Authority of Nigeria (FAAN), Nigeria Inter-Bank Settlement System (NIBSS) and Travelex Nigeria Limited.
