Godwin Emiefele, governor of the bank, announced the ban at a press briefing which held after a meeting of the Monetary Policy Committee of the bank, on Tuesday.
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Emiefele said BDC operators have become a conduit for illegal financial flows.
He also said the CBN will no longer continue registration of new BDCs and current allocation will be channeled to commercial banks.
All commercial bank branches will create a separate desk for sales of forex.