Campteller applauds Nigeria’s BDC recapitalization extension

By  Emmanuel Okoegwale

Campteller, a fintech building Africa’s first fully digital Bureau de Change (BDC) platform focused on the cross-border education segment and other payments, has applauded the Central Bank of Nigeria’s decision to extend the re-capitalization deadline for BDC operators to December 31, 2025.

Recall that it is founded by Nigerians and registered in Canada, South Africa, and Nigeria.

Campteller is currently raising pre-seed funding and has initiated the process of applying for a BDC license under the CBN’s revised framework.

The Nations News reports that the CBN’s updated directive, which raises the minimum capital base for BDCs to ₦500 million ($323,000) for unit operations and ₦2 billion ($1.3 million) for national operations, is designed to move the sector away from the current over-the-counter “bookshop” trading model. 

Investigation revealed that the process is targeted at strengthening Nigeria’s forex ecosystem and restoring credibility to the BDC segment. 

Campteller made this known in a statement signed by the Media Manager, Rachel Inegbedion and issued to The Nations Newson Tuesday.

The statement reads in part: “This is a timely opportunity that will not only attract much-needed investment  and stabilize the sector, but also to unlock long-overdue digital transformation, especially in high-value. And underserved verticals like cross-border education and trade.

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“Sub-Saharan Africa accounts for 5% of the global 8 million cross-border education market, with Nigeria as the leading outbound student mobility country in Africa, while South Africa leads in inbound mobility on the continent.

 Africans making cross-border education payments—whether intra-Africa, inbound, or outbound are often underserved, resulting in heavy reliance on unofficial and grey markets. International education providers also face delays, high costs, and elevated student churn due to the inability to collect payments seamlessly from the continent.

“This is a pivotal moment for Nigeria’s forex markets,” said Emmanuel Okoegwale, Founder and CEO of Campteller.

 “The recapitalization extension is not just regulatory housekeeping—it’s a chance to modernize how Nigeria handles significant forex transactions for trade, travel, education, and more. Much of this still flows through informal and inefficient channels.”

“Campteller is addressing this gap with a digital-first BDC solution that simplifies cross-border education payments while ensuring full compliance with CBN regulations. 

“The platform will digitize trust within the BDC segment through its shared infrastructure for licensed BDCs, enabling them to offer digital services without building costly proprietary systems for cross-border payments.

“We believe the BDC category, when paired with innovative technology, can power a new era of efficient, transparent forex services for everyday Nigerians—regardless of location, transaction value, or volume,” Okoegwale added.

“Cross-border education is a key starting point for us, and Campteller is building the rails to formalize these transactions in a way that benefits students, families, BDC operators, education providers, and the wider economy.” it stated.