The Central Bank of Nigeria (CBN) recently issued a draft of the Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria (the “Draft Guidelines”). The Draft Guidelines outline specific parameters for the operations of Bureau De Change (BDC) operators in Nigeria and once finalised, will replace the Revised Operational Guidelines for Bureaux De Change in Nigeria, 2015 (the “2015 Guidelines”).

We have highlighted some notable provisions of the Draft Guidelines.

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