The Central Bank of Nigeria, in a circular to BDC operators signed by Kevin Amugo, the Director of Financial Policy & Regulation, has announced two decisions:
“Given the recent development in the operations of BDCs in the economy, the CBN has decided as follows:
i.The refund of Mandatory Caution Deposit of N35 million to all BDC operators; and
ii.The retention of N1 million licensing fee.
“Therefore, all eligible BDCs may wish to apply for refund of their caution deposits, attaching evidence of payment and bank transfer details,” the circular said.
