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CBN Stops Sale Of FOREX To BDCs - Business - Nairaland

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Naira Hits ₦1,000/$ Ahead Of CBN Sale To BDCs / CBN formalises dollar sales to BDCs as naira improves / Naira Falls After CBN Stops Forex Sales To BDCs (2) (3) (4)

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CBN Stops Sale Of FOREX To BDCs by Kwanza: 3:03pm On Jul 27, 2021
The Central Bank of Nigeria (CBN) says it has stopped forex sales to Bureau De Change (BDC) operators in the country.

Godwin Emefiele, governor of the apex bank, announced this at the end of the monetary policy committee’s meeting in Abuja on Tuesday.

Emefiele said BDC operators have become a conduit for illegal financial flows working with corrupt people to conduct illicit flows and money laundering in Nigeria.
https://www.thecable.ng/breaking-cbn-stops-sale-of-fx-to-bdcs/amp

21 Likes 3 Shares

Re: CBN Stops Sale Of FOREX To BDCs by ygowon: 3:04pm On Jul 27, 2021
Confused leaders

49 Likes 2 Shares

Re: CBN Stops Sale Of FOREX To BDCs by Ammishaddai: 3:06pm On Jul 27, 2021
The incompetence of this government is chasing away foreign investors that are willing to do business in Nigeria.

44 Likes 6 Shares

Re: CBN Stops Sale Of FOREX To BDCs by HopeSpencer: 3:07pm On Jul 27, 2021
BDC --- Buhari's Dud Cheques

36 Likes 5 Shares

Re: CBN Stops Sale Of FOREX To BDCs by joyandfaith: 3:11pm On Jul 27, 2021
Buhari will reverse it.
Good development anyway.

34 Likes 2 Shares

Re: CBN Stops Sale Of FOREX To BDCs by frankzone: 3:12pm On Jul 27, 2021
Meffy seems so confused these days!

3 Likes

Re: CBN Stops Sale Of FOREX To BDCs by mrvitalis(m): 3:14pm On Jul 27, 2021
This is like the 800th time they would stop and next week they would start again

Lol MBA holders as CBN governor and finance minister n u expect progress

Buhari would handle security osibanjo would handle economy
Now security we no see , economy is worse and some wicked people wants to package osibanjo for us again as president

109 Likes 7 Shares

Re: CBN Stops Sale Of FOREX To BDCs by Vado(m): 3:14pm On Jul 27, 2021
Ammishaddai:
The incompetence of this government is chasing away foreign investors willing to do business in Nigeria.


Calm down oga. I’m a staunch critic of the government but this is long overdue. No forward thinking nation still does that shxt.

61 Likes

Re: CBN Stops Sale Of FOREX To BDCs by momodub: 3:18pm On Jul 27, 2021
Hemmmm
Re: CBN Stops Sale Of FOREX To BDCs by lawalosky(m): 3:19pm On Jul 27, 2021
This operator are contributing immensely in devaluation of our naira.
.
.
Everyday you see them sitting in Sheraton hotel road with baban riga uselessing our naira.

42 Likes 1 Share

Re: CBN Stops Sale Of FOREX To BDCs by Tobinrobin(m): 3:19pm On Jul 27, 2021
They will soon reverse the decision. A large percentage of BDCs are Northerners. This kind of decision don’t last against them lol.

62 Likes 4 Shares

Re: CBN Stops Sale Of FOREX To BDCs by maxjax(m): 3:19pm On Jul 27, 2021
shocked
Re: CBN Stops Sale Of FOREX To BDCs by fidel2(m): 3:20pm On Jul 27, 2021
Bravo.....!! Sai bubu
Re: CBN Stops Sale Of FOREX To BDCs by Kaybee14(m): 3:20pm On Jul 27, 2021
Ok. It is noted.

1 Like

Re: CBN Stops Sale Of FOREX To BDCs by Philomath1212: 3:20pm On Jul 27, 2021
I can't laugh

1 Like

Re: CBN Stops Sale Of FOREX To BDCs by Jmk9292(m): 3:20pm On Jul 27, 2021
For how long?

3 Likes

Re: CBN Stops Sale Of FOREX To BDCs by abhosts(m): 3:21pm On Jul 27, 2021
So why not sell directly to banks so that customers can have a higher dollar spending limit of their Naira Cards?

33 Likes

Re: CBN Stops Sale Of FOREX To BDCs by GIANTPLUSHUB: 3:21pm On Jul 27, 2021
Mheen
Re: CBN Stops Sale Of FOREX To BDCs by Nobody: 3:21pm On Jul 27, 2021
nawa oo
e don red

1 Like 1 Share

Re: CBN Stops Sale Of FOREX To BDCs by Mikael0407(m): 3:21pm On Jul 27, 2021
What is really the problem of this country exactly sad

2 Likes

Re: CBN Stops Sale Of FOREX To BDCs by Brokeloser: 3:21pm On Jul 27, 2021
This naija we too like to catch cruise self. Who born this guy for him to tamper with buhari brothers businesses. We all know northerners are the major people in this business

9 Likes

Re: CBN Stops Sale Of FOREX To BDCs by Tpave(m): 3:21pm On Jul 27, 2021
A good step in the right direction

1 Like

Re: CBN Stops Sale Of FOREX To BDCs by obi4eze(m): 3:21pm On Jul 27, 2021
Hmm...

I hope they wont sell to their goons.
Re: CBN Stops Sale Of FOREX To BDCs by Piptocoin: 3:21pm On Jul 27, 2021
A welcome change. Essential commodities should never be left to private individuals to control. It will help stabilize the supply and demand or flow of foreign currencies. The market would determine the value of foreign currencies and not some group of people who deliberately hoard them so as to rake in enormous gains by selling them above and beyond their actual market value. Good job, Emefiele.

3 Likes

Re: CBN Stops Sale Of FOREX To BDCs by Osyxcel(m): 3:21pm On Jul 27, 2021
Lol. Their friends and cronies are those benefitting from the BDC system. I don't think it will be that easy to stop.

Honestly, it's the right way forward.

8 Likes

Re: CBN Stops Sale Of FOREX To BDCs by SamgoldBaba: 3:21pm On Jul 27, 2021
grin


Nigerian Politicians wants youths broke by force,,, NEVER!!

1 Like 2 Shares

Re: CBN Stops Sale Of FOREX To BDCs by EddyNumerouno(m): 3:21pm On Jul 27, 2021
wow
Re: CBN Stops Sale Of FOREX To BDCs by mrphysics(m): 3:22pm On Jul 27, 2021
Vado:



Calm down oga. I’m a staunch critic of the government but this is long overdue. No forward thinking nation still does that shxt.
Most of them don't even understand anything. All they wait is to criticise even without thinking

7 Likes

Re: CBN Stops Sale Of FOREX To BDCs by FarahAideed: 3:22pm On Jul 27, 2021
Volte facing CBN doing what they do best ..by Monday they reverse again ... There is no reason why Nigeria is running the parallel forex market if not corruption!!!!! Well it's the North that benefits from this BDC crime family the most so expect a reversal soon

2 Likes 1 Share

Re: CBN Stops Sale Of FOREX To BDCs by Resurgent2016: 3:22pm On Jul 27, 2021
Vado:



Calm down oga. I’m a staunch critic of the government but this is long overdue. No forward thinking nation still does that shxt.

D bdcs fulfill gaps cbn does not even try to fill. What percentage of form M request does CBN fulfill and how long does it take?

They are just setting the country in for more inflation and more margins middlemen because bdcs that know their way will keep getting it.

D issue is bringing in forex and cbn has been the one discouraging inflows witg erratic policies that changes every week

6 Likes

Re: CBN Stops Sale Of FOREX To BDCs by femi4love(m): 3:22pm On Jul 27, 2021
HopeSpencer:
BDC --- Buhari's Dud Cheques

grin grin grin

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