CBN issues BDC operators 6-month deadline to apply for new licences

In keeping with the round, the rules are a part of reforms to re-position the BDC sub-sector to play its envisioned position within the overseas change market in Nigeria.

The Tips, amongst others, launched new licensing necessities and classes of BDCs in addition to revised the permissible actions, monetary necessities, company governance necessities and AML/CFT/CPF provisions for BDCs.

Consequently, it stated “all current BDCs shall re-apply for a brand new licence based on any of the tiers or licence classes of their alternative as offered within the Tips and meet the minimal capital necessities for the license class utilized for inside six months from the efficient date of the Tips.”

Additionally, candidates for brand spanking new BDC licences are required to satisfy the situations for the grant of licence in accordance with the tier or class of BDC chosen as stipulated within the Tips.

BDC operators are additionally anticipated to submit the names of a promoter, title of the proposed BDC, e-mail handle of the promoter and telephone variety of the promoter.

By RemmyTex

Remmytex is a blogger, promoter, entrepreneur and and a businessman. Call or send a Whatsapp message for more information on +2349075664854 or you can email remmytexblog1@gmail.com

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