Nigeria, June 3 -- With the June 3, 2025, deadline given by the Central Bank of Nigeria to BDC operators to recapitalize finally gone, pressure has been mounting on what will become of the industry, mindful that millions of jobs are in jeopardy.

The stakeholders are thus calling for action now and examining the model of recapitalization in an attempt to prevent a disaster of monumental proportions.

The CBN introduced a new minimum capital requirement last month, in May 2024. It mandates BDCs increase their minimum capital to N2 billion for Tier 1 and N500 million for Tier 2 licenses, a gigantic shift from the earlier N35 million threshold. The policy is part of a broad range of reforms seeking to deepen the foreign exchange market, enha...