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BY EDMOND ODOK – The Bureau De Change (BDCs) operators in the country have received serious knocks from the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele for their alleged engagement in the illegal and dirty tricks of dollarizing the Nigerian economy for selfish gains.
For hurting the economy, Emefiele has therefore vowed that the apex bank will no longer sell dollars to the operators going forward.
Speaking at the MPC meeting in Abuja on Tuesday, Emefiele said as the only apex bank selling dollars directly to the BDCs in the world, CBN is regretting its action based on the recent discovery that the operators continued to betray the confidence reposed on them.
The governor however said CBN has now taken a decision to deal directly with the commercial banks in a move meant to save the economy from further abuse by self-serving and opportunistic individuals and groups in the country.
Emefiele expressed regrets that the BDC operators have turned themselves into conduit pipes for unlawful flow of funds instead of partnering with the apex bank to service travelers and those in urgent need of dollars in small quantities.
He said the CBN will now focus on channeling “significant allocation for foreign exchange to banks to meet legitimate demands for Forex”, adding; “All commercial banks have been ordered to create teller points in their branches to pay out Forex to customers without any hindrance so long as the customer presents the minimum requirements.”
Emefiele warned that there would be no hiding place for any commercial bank that is found to be collaborating with foreign organisations to undermine the nation’s economy.
More to come shortly…
