ASPHALT LAYING BEGINS ON ALAGBOLE-AKUTE ROAD IN OGUN STATE.(PHOTOS). #PRESS RELEASE

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 Asphalt Laying Begins on Alagbole-Akute Road in Ogun State Work has officially commenced on the laying of asphalt along the Alagbole-Akute Road in Ifo Constituency II, Ogun State. The development, which began today, marks a significant step in the ongoing efforts to improve road infrastructure and ease transportation within the area. Residents have expressed optimism that the project will enhance mobility, reduce travel time, and boost economic activities along the corridor. The road, once completed, is expected to provide lasting relief to motorists and commuters who have long endured its poor condition. More photos below. 
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CBN REVOKES LICENSES OF 4,173 BDCs.(PHOTO). #PRESS RELEASE

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  Citing Non-observance of Guidelines, CBN Revokes Licenses of 4,173 BDCs


(PRESS RELEASE)


The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), has revoked the licenses of 4,173 Bureaux De Change Operators. The list of affected BDC operators is available on the Bank’s website (www.cbn.gov.ng).


The affected institutions failed to observe at least one of the following regulatory provisions:


  Payment of all necessary fees, including licence renewal, within the stipulated period in line with the Guidelines.

  Rendition of returns in line with the Guidelines.

  Compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.


The CBN is revising the regulatory and supervisory guidelines for Bureau de Change operations in Nigeria. Compliance with the new requirements will be mandatory for all stakeholders in the sector when the revised guidelines become effective.


Members of the public are hereby advised to take note and be guided accordingly.


 


E-SIGNED:


Sidi Ali, Hakama (Mrs.)


Ag. Director, Corporate Communications

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