According to the Acting Director of the Corporate Communications Department of the Central Bank of Nigeria, Hakama Sidi Ali gave clarity with regards to the new guidelines including two tiers of licensing following an earlier exposure draft circulated for public input earlier this year.
To that circular, the Central Bank of Nigeria activated the incorporation of the guidelines as posted on its website on Wednesday, May 22, 2024.
She reiterated the Bank’s invitation to interested parties to apply for BDC licences, provided they meet the new guidelines, effective June 3, 2024, while existing BDCs will have a six-month grace period to meet the new requirements.
In addition, Sidi Ali said the CBN remained committed to repositioning the BDC sub-sector to play its envisioned role in the foreign exchange market in Nigeria.