CBN discontinues sale of FX to Bureau De Change operators

CBN Governor, Godwin Emefiele at the end of the Monetary Policy Committee (MPC) meeting in Abuja announced that the weekly allocation and sale of foreign exchange to Bureau De Change (BDC) operators in the country has been suspended indefinitely.

According to Emefiele, the apex bank noted great concerns that the Bureau De Change operators have abandoned the original objective of their establishment.

He accused the BDC operators of facilitating grafts, illicit financial flows, and money laundering in the country.

According to him, CBN will not hesitate to sanction any bank operating in the country found to be collaborating with BDC operators to facilitate illegal forex dealings.

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