“We must be truthful to ourselves, the BDCs in the past have encouraged money laundering and many of them do not even trade with the foreign currencies they receive from the CBN but store them for speculations.
“These are some of the reasons why I think it is a good decision to stop giving BDCs forex,” he said.
“CBN must take control of effective monetary policy regulations.
“When this is done, BDC operators will do their jobs as retailers and not take over the role of the banks and engage in fraudulent activities,” he said.
NAN reports that the CBN had earlier declared that forex would henceforth be acquired through the commercial banks.
It threatened to sanction any bank that colluded with the BDCs in currency trading.
The apex bank also called on Nigerians to report any commercial bank that failed to issue them foreign currencies even after they had tendered necessary documentations. (NAN)