CBN Bans Sales Of Dollars To Bureau De Change Operators

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Godwin Emiefele, governor 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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He said the N5. 7 allocated to BDCs had become unsustainable as
$20,000 is allocated to 5500 BDCs, amounting to $110million per week.

Emiefele said BDC operators have become a conduit for financial flows.

He also said the CBN will no longer continue registration new BDCs and current allocation will be channeled to commercial banks.

All commercial bank branches will create a separate desk for sales forex.

Details later…