https://proudstars.blogspot.com/2016/01/bureaux-de-change-operators-at-war-with.html
Bureaux De Change Operators At War With Naira - CBN
Godwin Emefiele, the governor of Central Bank of Nigeria on Tuesday, January 19, told the Senate that there was no going back on the restrictions placed on Bureaux De Change (BDCs).
CBN governor, Godwin Emefiele exposes fraud in BDCs activities
He added that the operators were wagging a relentless war on the naira.
Emefiele disclosed that the activities of BDCs were responsible for the continued free fall of Naira as they allegedly embark on rent seeking speculation of the local currency.
The CBN governor told the senators that about 2,837 BDC owners were behind the war against Naira in the parallel market explaining that since the stoppage of allocations to BDCs, they have been sourcing their dollar from oil companies and other foreign exchange earners.
A source that was privy to the meeting said: “We will not review the restriction on the BDCs, because we have seen that they are the ones waging a huge war against the Naira.”
Emefeile urged Nigerians and the Senate not be worry about the free fall of value of Naira saying that things would soon stabilize saying: By our records, 45 per cent of our foreign exchange earnings go into importation of food, fuel and fertiliser. With the coming on board of Dangote factories, we are sure that 45 percent will stay with us. That is why we are backing him to complete the projects in record time.”
