‘Rice And Beans, Slow Down, Deep Freezer, JJC’

Bureau De Change (BDC) operators are essential stakeholders in the foreign exchange market in Nigeria as the average Nigerian sources their forex needs from the black market.

According to data from the Central Bank of Nigeria (CBN), the number of BDC operators in Nigeria has grown from a modest figure of less than 100 in 2005/2006 to about 5,690 currently in 2024.

These registered BDC operators have a weekly sale of over $110 million to them by the CBN. This is based on the CBN decision in 2006 to sell cash directly to the BDCs as part of the liberalization programme to ensure adequate supply to the sector and hence the convergence of the BDC and inter-bank rates.

However, an analysis by The Cable shows that some of the BDCs have funny and unusual names.

Here are some of the unusual names of approved BDC operators in Nigeria:

CCTV BDC LTD

Chelsea BDC LTD

Couple BDC LTD

Cream BDC LTD

Cruising BDC LTD

Day-by-day BDC LTD

Deadlist BDC LTD

Decorum BDC LTD

Deep Freezer BDC LTD

Divine Focus BDC LTD

Ephesians-three-twenty BDC LTD

Four to five BDC LTD

Fourteen February BDC LTD

Fullmoon BDC LTD

Go-well BDC LTD

Gucci BDC LTD

Happy Ends LTD

His Grace BDC LTD

Home Alone BDC LTD

Honeymoon BDC LTD

Hourglass BDC LTD

In-to-in BDC LTD

JJC BDC LTD

Looking and Seeing BDC LTD

Lovers BDC LTD

Pros and Cons BDC LTD

Rice and Beans BDC LTD

Select and Pay BDC LTD

Set up BDC LTD

SIX Six Six BDC LTD

Slow Down BDC LTD

You and Me BDC LTD

Young Free & Single BDC LTD

Zero to Ten BDC LTD

35. 10-20 Times BDC LTD