The Central Bank of Nigeria (CBN) has released a list of eligible Bureau De Change (BDCs) operators.
The CBN said all eligible BDCs must adhere to strict guidelines regarding the sale of foreign exchange to end-users.
Currently, the number of BDCs stands at 5,690, according to data from the CBN.
It directed BDCs to sell to end-users with a margin not exceeding one per cent of the purchase rate from the CBN.
To facilitate the process, BDCs are required to make Naira payments to the designated CBN Foreign Currency Deposit Naira Accounts.
Subsequently, they are to submit confirmation of payment along with other necessary documentation for disbursement at the designated CBN branches in Abuja, Awka, Lagos, and Kano.
Half of all the BDC operators in Nigeria are located in Lagos, highlighting the state’s dominance in the foreign exchange (FX) market.
This is followed by the federal capital territory (FCT), Abuja and Kano state
Here is the list of BDCs in Nigeria by state:
Lagos: 2,958
Abuja: 1,179
Kano: 981
Anambra: 259
Kaduna: 55
Abia: 50
Oyo: 32
Enugu: 25
Rivers: 24
Delta: 21
Sokoto: 18
Imo: 15
Edo: 14
Borno: 11
Bauchi: 7
Kwara: 7
Plateau: 6
Ebonyi: 4
Kebbi: 4
Niger: 3
Ogun: 3
Katsina: 3
Akwa Ibom: 2
Cross River: 2
Gombe: 2
Kogi: 2
Bayelsa: 1
Benue: 1
Nasarawa: 1
Also, here are some of the unusual names of approved BDC operators in Nigeria:
CCTV BDC LTD
Chelsea BDC LTD
Couple BDC LTD
Cream BDC LTD
Cruising BDC LTD
Day-by-day BDC LTD
Deadlist BDC LTD
Decorum BDC LTD
Deep Freezer BDC LTD
Divine Focus BDC LTD
Ephesians-three-twenty BDC LTD
Four to five BDC LTD
Fourteen February BDC LTD
Fullmoon BDC LTD
Go-well BDC LTD
Gucci BDC LTD
Happy Ends LTD
His Grace BDC LTD
Home Alone BDC LTD
Honeymoon BDC LTD
Hourglass BDC LTD
In-to-in BDC LTD
JJC BDC LTD
Looking and Seeing BDC LTD
Lovers BDC LTD
Pros and Cons BDC LTD
Rice and Beans BDC LTD
Select and Pay BDC LTD
Set up BDC LTD
SIX Six Six BDC LTD
Slow Down BDC LTD
You and Me BDC LTD
Young Free & Single BDC LTD
Zero to Ten BDC LTD
10-20 Times BDC LTD
