What are the requirements for registration as a member of ABCON?

  1. Written application for ABCON membership signed by MD and any other Director.
  2. Evidence of payment of Mandatory caution fee of N35million.
  3. Photocopies of the Directors personal identification
  4. Certificate of Incorporation (CAC)
  5. Photocopy of form C07 – Directors particulars
  6. Photocopy of Form CO2 & CAC 3
  7. Photocopy of Memo & Articles Of Association
  8. Photocopy of CBN Approval – In – Principle & Final Approval
  9. BDC Code


  1. Membership Application Form (N5,000)
  2. Registration fee (N50,000)
  3. 1 copy of Constitution (N1,000)
  4. 1 Copy of KYC manual (N1,000)
  5. Annual Subscription 16 (N15,000)
  6. Compliance Fee (N35,000)
  7. Cost of maintenance of she dedicated lines (N50,000)

Total N157,000.00


CASH OR DRAFT of N157,000.00 should be made in favor of Association of Bureau de Change Operators of Nigeria (ABCON). The completed and perfected membership form must be returned to ABCON Secretariat, No 4, Oluwaleyimu Street, Ikeja.

What are the requirements for re-certification of BDCs?

  1. Copy of CBN approval in principle or copy of temporary license
  2. Copy of CAC certificate of incorporation
  3. AIP/Final License/certificate duly issued by the CBN.
  4. Certificate of incorporation from Corporate Affairs Commission.
  5. Duly executed Form CAC 7 – Directors’ Particulars.
  6. Duly executed Form CAC 2 – Shares Allotment Return Form.
  7. Duly executed Form CAC 2.1
  8. Duly executed Form CAC 3 – Street address of the corporate office of the BDC.
  9. Duly executed Memorandum and Articles of Association.
  10. Evidence of the payment of CBN caution fee.
  11. Evidence of the payment of caution fee to CBN.
  12. Directors’ IDs and BVNs.
  13. Evidence of the payment of ABCON registration/annual due.
  14. Utility bill e.g. electricity, water, etc.
  15. Undertaking for BDCs Location.
  16. Signed attestation to be downloaded, signed and emailed after submitting online form.