According to reports, the CBN will commence the immediate refund of capital deposits to promoters who have pending Bureau De Change license application with the CBN, However the central bank of Nigeria disclosed some rules which are to be followed for the disbarment of refunds.
They stated that banks must forward their request for refunds in writing to CBN Abuja, Financial Policy and Regulations department, documents containing capital deposits ,account details and bank draft are to be included.
After the controversial CBN monetary policy meeting, we should expect more defragmentation with BDCs and Potential BDCs
