Bureau de change Business in Nigeria is seen as an exclusive business for the Hausas. Government has continually been protecting the business against all odds. Recall that Nigeria has three exchange rates against IMF warning. A special exchange rate was created for BDC, while others buy forex to do their business at a higher rate, Bdc enjoyed lower rate directly from CBN. Someone once make a joke to me by saying "no matter how lucrative BDC business may look, igbo man nor de do am". Not that Igbos don't like the business but they find getting the operating licence difficult as the business is exclusively reserved for a particular section of the country-the Hausa popularly called Alahaji. These set of business men are powerful and protected.

The question now is with this recent ban, what could have changed?

Some analysts have said that this could be a deliberate act for the Buhari led administration to further weaken the Hausas community in the North. Another school of thought has said that it is not unconnected with the recent newly found voices by the Hausas to the extent of them giving quite notice to Fulanis herdsmen in some parts of the North.

The writer of this article is only just thinking out loud

Good questions

It's for economic reasons, no?

Are you truly a Nigerian?
That you can't even spell correctly the name of the most populous tribe in Nigeria?

Is what you spelt the name of a tribe in Somalia or Mali?
Na wa o

THE ADMINISTRATION IS BENT ON MAKING POLICIES THAT WILL CRIPPLE ANYBODY WHO DARES TOUCH 'THE FULANI MAN' THAT HAVE BEEN COMMITTING ALL CRIMES WITH IMPUNITY. MEANWHILE THE BABARIC MEAT SELLER UP HERE HAS NOTHING TO SAY AS HE RESOLVES FOR TYPOGRAPHICAL ERROR CORRECTION.

Hausas will regain consciousness and be free one day.

Web2020:
Bureau de change Business in Nigeria is seen as an exclusive business for the Housas. Government has continually been protecting the business against all odds. Recall that Nigeria has three exchange rates against IMF warning. A special exchange rate was created for BDC, while others buy forex to do their business at a higher rate, Bdc enjoyed lower rate directly from CBN. Someone once make a joke to me by saying "no matter how lucrative BDC business may look, igbo man nor de do am". Not that Igbos don't like the business but they find getting the operating licence difficult as the business is exclusively reserved for a particular section of the country-the House popularly called Alahaji. These set of business men are powerful and protected.

The question now is with this recent ban, what could have changed?

Some analysts have said that this could be a deliberate act for the Buhari led administration to further weaken the Housas community in the North. Another school of thought has said that it is not unconnected with the recent newly found voices by the Housas to the extent of them giving quite notice to Fulanis herdsmen in some parts of the North.

The writer of thus article is only just thinking out loud

This is a powerful allegation.

I never knew BDC was only exclusive to the Hausa's..

I understand that other tribes couldn't get the license.

But does this mean the Fulani's were not part of the BDC industry?

Was it only exclusive to the Hausa's?

Someone please explain.

Elzakzaky was mainly arrested because while preaching to his ardent followers, he started drawing the attention of his Hausa adherents who mainly populate the Shiaa movement in Nigeria to the fact that most of the killings happening in Zamfara Kaduna Katsina axis were going on in mainly minorities and Hausa villages , especially areas with significant deposits of solid minerals! They want to clear these villages of the minorities and any antagonistic Hausas and replace them with marauding fulanis, then promulgate all sorts of laws to favour the "minerals producing areas"..

Sorry who are the Housas?

stonemasonn:
It's for economic reasons, no?

When did Buhari start caring about the economy?

I think I'm loving this. Let him create more enemies among the Hausas. Maybe this will wake them up.

HedwigesMaduro:


When did Buhari start caring about the economy?

lol,

Is "HOUSA" the aboriginal spelling of "HAUSA" ? Or the op is a Zarma from Niger republic because they run 50% of bdc in Nigeria

I don't think it has anything to do with punishing Hausas. No! Far from it. The reality is that the BDCs and banks connive to make money out of Nigeria's dire dollar situation. And the Hausas are the one that run BDCs.

But the biggest wahala is that we don't produce enough products for export to earn dollars. We mainly rely on oil and may be remmitances from Nigerians in diaspora.

[s]

DOTian:
Elzakzaky was mainly arrested because while preaching to his ardent followers, he started drawing the attention of his Hausa adherents who mainly populate the Shiaa movement in Nigeria to the fact that most of the killings happening in Zamfara Kaduna Katsina axis were going on in mainly minorities and Hausa villages , especially areas with significant deposits of solid minerals! They want to clear these villages of the minorities and any antagonistic Hausas and replace them with marauding fulanis, then promulgate all sorts of laws to favour the "minerals producing areas"..

[/s]


Pls stop posting rubbish fake news ok. Stop spreading lies

Hausas most stand up and fight this wicked Fulani people .....

Buhari want to leave everyone bleeding at the end of his 2nd term. But God pass am

Trying to sound intelligent the OP ended up pointing out the fallacy of reasoning in the average southerner (or more specifically south easterner)

If this policy was directed at fake spare parts they will be all over social media shouting blue murder. But have you heard any Northerner lament about the policy on BDC by an Igbo CBN governor targeting a North dominated business ?

Yet see what the OP is trying to spin. Since to their surprise no one has made such spurious allegations from the North. I guess the North also needs start looking at government policies with similar myopic lenses as these clowns so they know no one has monopoly over stupidity - but you know what? we wont.

Web2020:
Bureau de change Business in Nigeria is seen as an exclusive business for the Hausas. Government has continually been protecting the business against all odds. Recall that Nigeria has three exchange rates against IMF warning. A special exchange rate was created for BDC, while others buy forex to do their business at a higher rate, Bdc enjoyed lower rate directly from CBN. Someone once make a joke to me by saying "no matter how lucrative BDC business may look, igbo man nor de do am". Not that Igbos don't like the business but they find getting the operating licence difficult as the business is exclusively reserved for a particular section of the country-the Hausa popularly called Alahaji. These set of business men are powerful and protected.

The question now is with this recent ban, what could have changed?

Some analysts have said that this could be a deliberate act for the Buhari led administration to further weaken the Hausas community in the North. Another school of thought has said that it is not unconnected with the recent newly found voices by the Hausas to the extent of them giving quite notice to Fulanis herdsmen in some parts of the North.

The writer of this article is only just thinking out loud

they'll undo the ban soon

post=104299702:
Are you truly a Nigerian?
That you can't even spell correctly the name of the most populous tribe in Nigeria?

Is what you spelt the name of a tribe in Somalia or Mali?
Na wa o

Felix, stop derailing the thread.
The OP has corrected his mistake, concentrate on the question he asked.

So there are no longer Buhari's brothers?

You people will just wake up and begin to create imaginary divisions

nobody is fighting anyone...

it's for the economy.. @ OP

Not a fan of Buhari yet this ban of BDCs is not targeted at the Hausas.

It is purely a macro-economic decision that is long overdue to be honest and one Buhari must be given credit for having the bravery to initiate as it will affect a a lot of people including some very big and influential men.

Nigeris should not have formal parallel markets operating very different exchange rate from official CBN rate for currency. It is one of the myopic and self-harming acts of greed and national sabotage different governments have allowed to go on for too long.

It only aids devaluation of the Naira while making it more difficult and significantly more expensive for Nigerians to conduct international trade and even make essential payments like school fees for wards studying abroad. It harm's the Nigerian economy significantly and has contributed to the runaway inflation rates we are seeing today.

It is like having registered pharmacies openly selling fake drugs at higher price than genuine medicine. Obviously such a development harms the health of all Nigerians while only a few individuals profit massively.

Where they in bondage before?

chrisxxx:
Hausas will regain consciousness and be free one day.

ITS the CBN Governor that's willing to bring the hausas down with his to & fro policies,

Tomorrow you go hear am say he lift d ban afta all the price don hike.

The believe that BDC are only northerners was mostly true in the 90s. But that is not completely true today.

Igbo, Yoruba and other Tribes own BDC.
Many people confuse the mallam in the street for BDC. The mallam in the street are just like house boys to BDC owner.

BDC license was liberalized under Obasanjo. Since then, alot of people from the south registered several BDCs.


But today, that is no longer true.

So no be Islamisation again. Na hausas ein dey fight? Lol

life2017:
The believe that BDC are Hausa is a lie.
Igbo, Yoruba and other Tribes own BDC.
Many people confuse the mallam in the street for BDC.

The mallam in the street are just like house boys to BDC owner.

BDC license was liberalized under Obasanjo. Since then, alot of people from the south registered several BDCs.

Maybe it was mainly northerners in the 90s.

But today, that is no longer true.

Totally correct. The whole thing is a scam making some rich while Nigeria and ordinary Nigerians are the biggest losers.

I even know Yorubas, home and in the diaspora, making a fortune from the black market exchange rate avenues. That is to show this is not about ethnicity as I am Yoruba. It is ignorant to think only Hausas are cashing in from the currency black market BDCs profit from.

Those who mean Nigeria well will understand that it is very harmful CBN has an official rate of pounds to Naira that can be around 500 Naira to 1 pound yet the BDCs can offer rates of 705 Naira to 1 pound .

This causes inflation, deepens poverty and affects the economic productivity of Nigeria . It should be stopped.

Issues are about a nation being held to ransom by a few big players and their minions who want to keep profiting by exploiting unpatriotic loopholes that enslaves ordinary Nigerians, and their generations unborn, while making these few individuals private jets rich bearing in mind that the average brand new private jet cost over 50 million dollars.

I have accused Buhari of nepotism but he is doing the right thing on this occasion as BDCs are nothing but a currency scam destroying the future and fortunes of ordinary Nigerians while making a few very rich.

The whole Nigerian system is built on greed and sabotage against ordinary Nigerians by callous players no more than 0.5% , from every ethnic group, of the entire population of our nation.

Nigeria is a glorified scam driven by unpatriotism and disinterest of Nigerians ,at all levels, in building a better nation.

Buhari should simply embrace the call for restructuring and regionalism. His effort here is praiseworthy, the right thing to do, and may even be productive short-term but I personally feel it will fail long term as it ignores the root cause of our problems as a currently divided and ethno-religiously bigoted nation where no one believes in Nigeria.

Gumi fights for Northern bandits, kanu fights for Igbos and Sunday Igboho fights for Yorubas. They are the ones brave enough to show where they stand while all other Nigerians fight privately and behind the scenes to empower themselves and ethnic affiliates alone.

Most Nigerians are now about me, myself and my ethnic group. To reform Nigeria you must give Nigerians a competitive and meritorious system where they will realize that if they don't do the right thing they will starve and stagnate in comparison to others. It is the only way forward.

Remove FG 'feeding bowl' system, by introducing true federalism, and that will make every Nigerian realize that survival and personal prosperity in their State and region will be directly tied to their own private input and effort and not an ability to exploit a corrupt, disorganised, nepotistic, greedy and inefficient central government and political system as every Nigerian is doing currently.