CBN May Re-validate Some Revoked Bureau De Change Licences

[Shola Sholaz]

The Central Bank of Nigeria (CBN) says it may revalidate some Bureau De Change (BDC) operators' licences revoked over their inability to meet up with the recapitalisation deadline in 2012.
.
Mr Olufemi Fabanwo, the Director of Other Financial Institutions and Supervision Department (OFISD), disclosed this on Saturday in an interview with the News Agency of Nigeria (NAN) in Lagos.
.
He said that the CBN might reconsider allowing the affected bureau de change operators to resume their operations, if they were not found guilty of any offence.
.
According to him, the authority may reconsider, reinstate and align the bureau de change operators back into business, if their licences were not supposed to have been revoked.