The Central Bank of Nigeria (CBN) says it no longer sells foreign exchange to Bureau De Change (BDC) operators in the country.
CBN Governor, Godwin Emefiele, announced after a meeting of the Bank’s monetary policy committee on Tuesday, July 27, 2021, that operators have been found to be conduits for illegal financial flows.
He accused them of working with corrupt people to make money laundering easier in the country.
Issuance of a new BDC license has been suspended, according to the CBN boss.
The apex bank will now channel forex through commercial banks who have been directed to set up desks to serve customers.
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