Further to the CBNs policies governing Bureaux de Change (BDCs) and other financial institutions, this document was issued. The goal of this new Code of Corporate Governance for Bureaux de Change is to reposition BDCs to perform their statutory roles and complement the current operational guidelines and regulations. Although it was issued in October 24, 2018, it shall come into effect on April 1, 2019.
BDCs are financial institutions licensed to carry on small scale foreign exchange business on a stand-alone basis in Nigeria.
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