CBN revokes 236 BDCs Licenses

 

Festus Okoromadu

The Central Bank of Nigeria (CBN) today announced the revocation of licenses of 236) Bureaux De Change (BDCs) operating across the country. Topping the list are the likes of Afrinvest BDC, and FBN BDC believed to have been owned and operated by the foremost investment firm, Afrinvest West Africa Limited based in Lagos as well as First Bank of Nigeria Plc respectively.

Other BDCs believed to be linked to some banks and renown investment firms or personalities in the country include, ALLSTATES BDC, Bojedor Bureau de change Limited, BTS Securities Limited (BDC), Chik Finance & Securities Limited, Compass Investment & Finance Limited, Consolidated Financial Services Limited (BDC), STB BDC and Safe Link Finance Company Limited among others.

A review of the list show that a good number of the BDCs hitherto linked to some capital market operators were affected by the close down order. Although, the CBN did not state the reason for revoking their licenses, there are speculations that it may not be unconnected with allegations of malpractices leveled against them. A source close to the CBN told ‘The Post’ that many of them have been found to be involved in round tripping at one time or the other.

Meanwhile, the apex bank has advised all authorised dealers and buyers, BDC operators and the general public, to stop transacting business with the listed BDCs. In a circular issued by the Bank  which The Post obtained, it said “Consequently all authorised dealers/buyers and the general are advised that with effect from January 14, 2013, any foreign exchange transactions, including sales and purchases from these BDCs as well as transfer of funds through them and or on their behalf is illegal”.

The circular with reference no, TED/FEM/FPC/GEN/01/041 which is signed by Batari Musa, Director Trade & Exchange Department of CBN states,   further advised those concern to comply with the directive.

 

See List Below

 

S/N NAME
1 A.F.A BDC
2 A.I.A BDC
3 ACCLAIM BDC
4 AFRICAN SHELTER BDC
5 AFRINVEST BDC
6 ALL AFRICA BDC
7 ALLSTATES BDC
8 AL-RIMA BDC
9 ALWAYS BDC
10 ALWAYS FINANCAE & INVESTMENT CO LTD (BDC)
11 AMD BDC
12 AMIRA BDC
13 AMJIGAR BDC
14 AMX BDC
15 ARIJO BDC
`16 ATETE BDC
17 ATLANTIC MEDITERANEAN LTD (BDC)
18 ATRAYS BDC
19 BEDFORD BDC
20 BELLVIEW TRAVELS (NIG) LTD (BDC)
21 BEN BDC
22 BENEDON BDC
23 BETNADU INVESTMENT NIG LTD (BDC)
24 BEXLEY BDC
25 BOJEDOR BUREAU DE CHANGE LTD (formerly Adoney BDC)
26 BTS SECURITIES LTD (BDC)
27 BTC BDC
28 BTS SECURITIES LTD (BDC)
29 CALVARY BDC
30 CBL BDC
31 CCP BDC
32 CEDAR BDC
33 CELTIC FINANCE LTD (BDC)
34 CHAMO BDC
35 CHIK FINANCE & SECURITIES LTD (BDC)
36 CHOMEX BDC
37 CIRCULATED BDC
38 COMPASS INVESTMENT & FINANCE LTD
39 CONSOLIDATED BDC
40 CONSOLIDATED FIN. SERVICES LTD (BDC)
41 CONTINENTAL FINANCE LTD (BDC)
42 CORE TRUST (CT) BDC
43 CORPORATE FOCUS BDC
44 CRITERION BDC
45 CROSSRATE BDC
46 DABI BDC
47 DADDY ABUBAKAR (DAMCO) BDC
48 DAN’ AZUMI BDC
49 DANCO BDC
50 DEKOL BDC
51 ECNL BDC
52 EMB BDC
53 EXECUTIVE BDC
54 FAI’DA BDC
55 FAIREX BDC
56 FAITH BDC
57 FCT BDC
58 FEZEL BDC
59 FIAAM RESOUCES BDC
60 FOREX TRUST BDC
61 FOREXEXCHANGE LTD (BDC)
62 FOREXFIELD BDC
63 FOREXPOINT BDC
64 GBUJAS BDC
65 GEONNASONS TRAVELS LTD (BDC)
66 GILT & EDGE FINANCE LTD BDC
67 GLE FINANCE LTD BDC
68 GOLD PACKAGE BDC
69 GOLDEN TRUST BDC
70 GOLDFINGER FINANCE & INVESTMENT LTD
71 GOLDWORTH BDC
72 GOMBAI BDC
73 GREATWALL GOLDEN BDC
74 GYRUSS BDC
75 HALAL BDC
76 HANKASURA BDC
77 HOLD TRADE BDC
78 HOLMENS INVESTMENT CO LTD (BDC)
79 IAS BDC
80 IBN UMMERAH BDC
81 IMPERIAL BDC
82 ONTERFOREX BDC
83 INTERNATIONAL CURRENCIES BDC
84 IPMS EXCHANGE HOUSE BDC
85 JAMA’A BDC
86 JAYCE BDC
87 JOHNES FINANCE & MGT CONST LTD
88 JOHNMAT BDC
89 JUBILEE BDC
90 KANO AGENCY BDC
91 KANZUL BDC
92 KATINGA BDC
93 KENNETH MICHAEL BDC
94 KINE BDC
95 KINGTRADE BDC
96 KUNGU BDC
97 LANA SECURITIES & INVESTMENT BDC
98 LINDEL ASSOCIATE BDC
99 LIST BDC
100 M. CHRIST BDC
101 MALINA BDC
102 MASABA BDC
103 MASS BDC
104 MAZZUCO BDC
105 MERRLYN FINANCE LTD (BDC)
106 MOLAY INVESTMENT LTD
107 MONEY MART BDC
108 MULTI GOLD BDC
109 NAIRA CHEQUE BDC
110 NASUDE INTERNATIONAL BDC
111 NEGRIS BDC
112 NEWDAWN BDC
113 NIIMA BDC
114 NISEL BDC
115 NUSAC NIGERIA LTD (BDC)
116 OKEBIZ MERCHANTILE LTD (BDC)
117 OMF BDC
118 OPTIMAL BDC
119 PARALLEX BDC
120 PEOPLE’S CHOICE FINANCE LTD (BDC)
121 PETER KING & SONS BDC
122 PLANET BDC
123 PLANET ONE BDC
124 POLY ENGINEERING NIG LTD (BDC)
125 PRIME LINK BDC
126 PUBLIC FINANCE LTD (BDC)
127 REALISTIC EQUITY INVESTMENT LTD
128 RESTORATION BDC
129 RISKH BDC
130 RITZ CARLTON
131 RIVERBOUND BDC
132 NEW ROUTE BDC
133 ROCKFINANCE CURRENCY ISSUES BDC
134 ROLAND BDC
135 RUTAM TRAVELS LTD (BDC)
136 SAFE BDC
137 SAFE LINK FINANCE COY LTD (BDC)
138 SAFEPOINT (BENTOMI) BDC
139 SAJIK BDC
140 SALFRON BDC
141 SELPAK BDC
142 SHA’ADA FAS BDC
143 SHEFA BDC
145 SHOLAWA BDC
146 SILVER BDC
147 SODEC BDC
148 SOUTHERN MERCHANT LTD (BDC)
149 SOVEREIGN MERCHANT LTD (BDC)
150 STAR TOURISM LTD (BDC)
151 STARLIGHT BDC
152 STB BDC
153 STONEHILL BDC
154 SUNLIGHT BDC
155 TAHA BDC
156 THIRD WORLD BDC
157 TOMARE BDC
158 TONEMA ENTERPRISES LTD (BDC)
159 TRANSFOREX BDC
160 TRAVELLER BDC
161 TREASHOLD OF TRUST BDC
162 TREASURY TECH RESOURCES BDC
163 TRUST TRANSACTIONS LTD (BDC)
164 TUBS BDC
165 VINTAGE BDC
166 WORLDWIDE BDC
167 YOMENI BDC
168 YONGA PAN BDC
169 ZEETO BDC
170 ZETAC BDC
171 A.G.Y.L BDC
172 ABDUYUSH BDC
173 ABSAN BDC
174 AISHA BDC
175 AL-GULAM BDC
176 AL-QURAYSH BDC
177 AL-TASAWUQ BDC
178 ALYASAN BDC
179 AMAS ULTIMATE ROSE BDC
180 AMIBUKAR BDC
181 ASIRU BDC
182 ASK BDC
183 AUYO BDC
184 BASIC CONCEPTS BDC
185 BEAR TRACK BDC
186 BLUE-AXIS BDC
187 BSY BDC
188 BULHAJA BDC
189 CADLAM BDC
190 CAMBIO BDC
191 CHADDERI BDC
192 DANAZUMI & GARBA BDC
193 DANKOLI BDC
194 DAYSTAR BDC
195 DUAL CURRENCY
196 EARN OUT BDC
197 FARSMAN BDC
198 FBN BDC
199 FOREX FUTURE BDC
200 FST BDC
201 G.R. UMAR INT’L BDC
202 GAGARAFAFA BDC
203 GREAT LARADRIS
204 GURUSS BDC
205 GWAZAYE BDC
206 H.B.A BDC
207 HAK BDC
208 KAFINGA BDC
209 KAN FOREX BDC
210 KANDUB BDC
211 KANGU BDC
212 KANO COOPERATIVE BDC
213 LATE BABA SANI BDC
214 LEADER BDC
215 LUKO BDC
216 M.B. IKO BDC
217 MAISHINKU BDC
218 MAK BDC
219 NAHAULA BDC
220 NASARAWA-KIFI BDC
221 NATION BASE BDC
222 PERFECT BDC
223 RANO BDC
224 ROYAL TRUST BDC
225 RUAYAB BDC
226 SABON RUWA BDC
227 SANYAK BDC
228 SEA BDC
229 SGG BDC
230 SHOKURA BDC
231 TANGARAN BDC
232 TC & T BDC
233 UMSAD BDC
234 VOSTRO BDC
235 YAHRAB BDC
236 YAR-ABBA BDC