The CBN governor, Godwin Emefiele, who announced the decision in Abuja on Monday, said the new directive took immediate effect.
Mr. Emefiele said the CBN would henceforth equally discontinue its sales of foreign exchange to Bureau de Change (BDC) operators, accusing them of excessive greed and rent-seeking practices.
The CBN governor explained that the BDC operators would now need to source their foreign exchange from autonomous sources.
He said to ensure that no operator violated the country’s anti-money laundering laws, the CBN would deploy more resources to closely monitor the sources of foreign exchange by the BDCs.
“These measures are not intended to be punitive on anyone or any group,” the CBN governor explained.
“Rather it is meant to ensure that the CBN is better able to carry out its mandate in an effective and efficient manner, to guarantee the preservation of our scarce commonwealth, and that our hard-earned financial system stability remain intact to the benefit of all Nigerians,” he added.
Culled from Premium Times
*sighs of relief*
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