The Central Bank of Nigeria (CBN) has suspended the sale of forex to Bureau De Change (BDCs) on the basis that they are being used for money laundering.
The Governor of the apex Bank, Godwin Emefiele, who spoke today, July 27 at the Money Policy Committee meeting, (MPC), in Abuja said that no more new BDC licenses will be issued.
“We will deal ruthlessly with Nigerian banks that deal with illegal BDCs and we will report foreign organisations patronising them.”
Commercial banks are to create outlets at all branches for sale of FX to public, even as consumers are asked to report to the CBN if they can’t get retail FX from their banks.
Details later.
