By InvestAdvocate
Lagos (INVESTADVOCATE)-The
Central Bank of Nigeria (CBN) on Friday said it would refund N35 million of Mandatory
Caution Deposit to all Bureau De Change operators.
“All eligible BDCs may wish to apply for refund of their caution deposits, attaching evidence of payment and bank transfer details,” the CBN said in a circular signed by Kevin Amugo, director, Financial Policy and Regulation Department.
Also, the CBN
said it would retain the N1 million licensing fee.
The CBN says this
is coming on the heels of recent development in the operations of BDCs in the
economy.
