Almost a week now after the suspension of Mallam Sanusi Lamido, the Central Bank of Nigeria (CBN) has revoked the licence of 101 Bureaux De Change (BDC) companies for their involvement in money laundering and other financial infractions. The CBN, in a circular released stated that the revoked BDCs had inadequate documentations on huge foreign exchange purchased from banks.
These are the means our scarce foreign exchanged was wasted during Sanusi’s era, thereby destroying the value of Naira.
Naira recovered a little this weeks after nearly a year of continues bashing as result of selling the scare dollar to friends and relatives that have bureau de change company.
The CBN in the circular said that the BDCs were unable to provide satisfactory evidence of the purchase and utilisation of autonomous foreign exchange. SEE MORE AFTER CUT>>>>
Mr Isaac Okoroafor, CBN spokesperson, in a text message, confirmed the revoking of these operating licences of 101 BDCs. “The BDCs were involved in money laundering and failure to provide adequate records and documentation of huge autonomous foreign exchange purchased from banks,” Okorafor said.