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)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Diaspora
Consulate condemns alleged killing of Nigerian, Emeka Iroegbu, by South African metro police
The consulate said Mr Iroegbu, 50, was allegedly murdered on June 28 in Sunnyside, Pretoria, in the Gauteng province.
States
FG inaugurates N137 billion road projects in Borno
He stated that when completed, the roads would boost trade and agricultural activities and enhance the efficiency of security operations.
States
Katsina govt, COPMAN launch subsidised seeds for 1,000 cotton farmers
The initiative is designed to make quality cotton seeds affordable and encourage increased cotton production during the current farming season.
States
Police arrest suspect, recover stolen motorcycle in Bauchi
Mr Habib said the suspect confessed to stealing the motorcycle from Unguwar Kusu in the Yelwa area of Bauchi.
Economy
APC state chairmen hail Lekki Free Zone as model for industrial growth
He said it had become one of Nigeria’s greatest economic success stories.
Africa
WAHO harmonises 58 health training curricula across West Africa
The curricula are designed for health science teachers across ECOWAS member states to promote standardised training and strengthen the region’s health workforce.
