CBN commended for revoking 4,173 BDC licences
Samuel Nzekwe, a former president of the Association of National Accountants of Nigeria, has commended the Central Bank of Nigeria for revoking the operational licences of 4,173 bureaux de change operators.
Mr Nzekwe gave the commendation on Monday in Ota, Ogun.
On Friday, CBN revoked the operational licences of 4,173 BDC operators.
Mr Nzekwe said the apex bank’s decision to revoke the BDC licences was a good development as this would help to check the manipulations in the foreign exchange.
He noted that the BDCs in other climes were meant for light travellers, but the reverse was the case in Nigeria.
“The BDC operators are part of the problems of the country as they have bastardized the foreign exchange policy,” Mr Nzekwe said.
The ex-ANAN president stressed the need for adequate monitoring of BDC operation by the CBN.
(NAN)
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