The Central Bank of Nigeria has discontinued sale of foreign exchange to Bureau De Change operators as part of move to preserve the nation’s external reserves.

The CBN governor Godwin Emefiele, who announced the decision on Monday in Abuja, said the BDCs operators are however allowed to source for forex from any other source that will not be contrary to the money laundering laws.

Emefiele said the apex bank could not contend with the enormous challenges and reduction of the external reserves.

http://www.dailytrust.com.ng/news/business/cbn-stops-forex-sale-to-bdcs/128327.html

This is long overdue. Nigeria was the only country doing it.

Banks will start doing real business with the transfer of funds to TSA and cancellation of COT.

BDCs will start doing real business.

Activa:
This is long overdue. Nigeria was the only country doing it.

Banks will start doing real business with the transfer of funds to TSA and cancellation of COT.

BDCs will start doing real business.

There's only one small problem with your logic-
This policy has automatically made Nigeria an island. If the govt had a clear plan to mitigate the effects of a total scarcity (recall december petrol crisis?), the damage would've had a reduced impact.
As things stand, those who understand the ripple effects have been gasping in utter horror.
But just so everyone is carried along-
Do we now see how the ripple effects of the dollar ban on those 41 items has caused a much more severe calamity?
And the consequences of this new policy will be life-threatening for this nation.
And that's putting it mildly...

Moral of the story-
Never try to run a nation based on a single decision by a single official in a single parastatal.

... Storms are coming.

In an ironic twist, this IS good for us-
3 years from now.
But!
For the immediate future, what's the government going to do about all the criminal activities that will surely result from every bdc now being forced to look for ALL their hard currency outside official channels?