BEARUE DE change activities in Nigeria have finally come to an end.

The CBN governor minutes ago dropped the hammer on the activities of BDC's across the nation blaming them for sundry negative economic activities including money laundering and economic subversion.

He also claimed the modus operandi of the BDC's gave them overt leverage to engage in illegality of corruption and graft.

He immediately ordered banks to open a dedicated desk for forex disbursements with immediate effect.
He directed all well meaning Nigerians who need dollar for school fees, important actions, medical bills to approach their banks forthwith.

According to the CBN governor, over 5,500 BDC's across the nation get a weekly disbursement of $20,000 each week from the CBN, gulping over $100m weekly.

He queried the reasons for scarcity of dollar in the land despite this massive disbursements to the BDC's
Developing story..


Banks have been directed to assume the roles of BDC's with immediate effect.

Please take note
Seun
Mynd44

Source?

Lie from the bottomless of hell

This news should be verified ooo

AKA NLPOLICEWOMAN WHAT DO YOU HAVE TO SAY CONCERNING THIS NEWS

Opak001:
This news should be verified ooo

NA SO VEDAXCOOL TAKE BECOME JOBLESS


THIS LIFE NOR BALANCE AT ALL

If I become president this is the first thing I will do.... Leave it for bank you can easily regulate

Hmmm

E be like say this work don tire Emefiele...

His bosses won't be very pleased with this news if indeed true.

How. Many foolish Igbos like you, young or old live such a miserable life is beyond.

So your hopeless igbo father can not find anything worthy to do with your wretched life aside your mentioning your wretched father will never be worthy to lace their shoes.

You are indeed doomed beyond redemption. It is finish for your father.

OBALOLA55:
NA SO VEDAXCOOL TAKE BECOME JOBLESS


THIS LIFE NOR BALANCE AT ALL

newbornmacho:
Source?

https://www.google.com/amp/s/punchng.com/breaking-cbn-stops-forex-sales-to-bureau-de-change-operators/%3famp

Exponential101:
How. Many foolish Igbos like you, young or old live such a miserable life is beyond.

So your hopeless igbo father can not find anything worthy to do with your wretched life aside your mentioning your wretched father will never be worthy to lace their shoes.

You are indeed doomed beyond redemption. It is finish for your father.

The threat of armed Banditry and kidnapping will increase.
Those Mallams will join their brothers in the desert if they take away BDCs business

Na to open forex firm like thiso

Story...story story...

Na Bureau de Change na Northern Business...CBN no fit ban am...

Na Alahajis them get the business.

Kaiser20:
The threat of armed Banditry and kidnapping will increase.
Those Mallams will join their brothers in the desert if they take away BDCs business

And if doesn't work, Emefiele will lose his job.
Hausa no fit take this kain decision play.

Make I no go Change dollar hear say na $1/411

Interesting.
CBN stops forex sales to BDC not ban BDC.
I'll like to see the market's reaction to this.
Emefiele isn't Lilly livered after all. First FBN, now BDC.

Everyday with Yeye policy up nd down without no result...

Make person no go wake one day hear say dem don ban Oxygen or we av been ban from sleeping...

Which of the major BDCs depend on the paltry $20k weekly disbursement in the first place? Lol. Nonsense.

Lol.

I just saw this news on channels TV.

A welcome development but is buhari aware of this cos tomorrow it may be another ball game as this government is fond of lies and denials.

Awaiting confirmation from Lie, Garbage guy and that Ade

In Nigeria a business investment made with your blood and sweat can evaporate in an eye blink. It has happened to me before. After exhausting million registering my own brand for syringes and importing a few containers, I still had a lot that had not come in when the Federal Government banned the importation of the regular syringe and instead declared that the auto break type syringe would henceforth be allowed. Not only was my licences less than 6 months but the company in China had my money and did not produce the auto destruct type syringe. To get my money back became a big problem. And the worst of all is that this policy never took off and after I had been effectively destroyed, the regular type syringe was allowed up till this day

[s]

Curious345:
BEARUE DE change activities in Nigeria have finally come to an end.

The CBN governor minutes ago dropped the hammer on the activities of BDC's across the nation blaming them for sundry negative economic activities including money laundering and economic subversion.

He also claimed the modus operandi of the BDC's gave them overt leverage to engage in illegality of corruption and graft.

He immediately ordered banks to open a dedicated desk for forex disbursements with immediate effect.
He directed all well meaning Nigerians who need dollar for school fees, important actions, medical bills to approach their banks forthwith.

According to the CBN governor, over 5,500 BDC's across the nation get a weekly disbursement of $20,000 each week from the CBN, gulping over $100m weekly.

He queried the reasons for scarcity of dollar in the land despite this massive disbursements to the BDC's
Developing story..


Banks have been directed to assume the roles of BDC's with immediate effect.

[/s]

fake news

Please take note
Seun
Mynd44
[/quote]

BDC is Fulani business...it can't be possible in the Fulani government....

The head of the Fulani government will announce the cancellation of the directives...

Emeifele is climbing a tree beyond it leaves...he will soon fall and retire back to his Nyamiri region.....


#we move

He immediately ordered banks to open a dedicated desk for forex disbursements with immediate effect.
He directed all well meaning Nigerians who need dollar for school fees, important actions, medical bills to approach their banks forthwith.

According to the CBN governor, over 5,500 BDC's across the nation get a weekly disbursement of $20,000 each week from the CBN, gulping over $100m weekly.

He queried the reasons for governor scarcity of dollar in the land despite this massive disbursements to the BDC's

Unfortunately, the banks won’t do better. Nigerians irrespective of their education, social status, profession etc are inherently corrupt.

The banks that are now to take over the functions of the BDC are also heavily involved in round tripping the system and money laundering.

This decision will only lead to further depreciation of the Naira because banks will make things worse for everyone. The decision will never stop corruption and money laundering.

Exponential101:
How. Many foolish Igbos like you, young or old live such a miserable life is beyond.

So your hopeless igbo father can not find anything worthy to do with your wretched life aside your mentioning your wretched father will never be worthy to lace their shoes.

You are indeed doomed beyond redemption. It is finish for your father.

SEUN OAM4J LALASTICLALA MYND44 DOMINIQUE JUSTWISE


RULE #2

Don't abuse, bully, deliberately insult/provoke, fight, or wish harm to Nairaland members OR THEIR TRIBES.

Then keep importing again sir

FEGNO:
In Nigeria a business investment made with your blood and sweat can evaporate in an eye blink. It has happened to me before. After exhausting million registering my own brand for syringes and importing a few containers, I still had a lot that had not come in when the Federal Government banned the importation of the regular syringe and instead declared that the auto break type syringe would henceforth be allowed. Not only was my licences less than 6 months but the company in China had my money and did not produce the auto destruct type syringe. To get my money back became a big problem. And the worst of all is that this policy never took off and after I had been effectively destroyed, the regular type syringe was allowed up till this day

seunmsg:



Unfortunately, the banks won’t do better. Nigerians irrespective of their education, social status, profession etc are inherently corrupt.

The banks that are now to take over the functions of the BDC are also heavily involved in round tripping the system and money laundering.

This decision will only lead to further depreciation of the Naira because banks will make things worse for everyone. The decision will never stop corruption and money laundering.

are you lamenting because your lazy alahji are about to become useless and jobless or you are lamenting because you really care about Nigeria wellbeing?anyway,give banks benefit of doubt.kepe akanmu

Yes, the resolution is positive and essential to our fiscal growth.
The way BDC operators whimsically hoard dollars unconscionably to later sell at higher rates needed to be checked
A welcome move by the CBN