CBN Officially Stops Sale Of FOREX To BDCs

The Central Bank of Nigeria (CBN) says it has stopped forex sales to Bureau De Change (BDC) operators in the country. Godwin Emefiele, governor of the apex bank, announced this at the end of the monetary policy committee’s meeting in Abuja on Tuesday.

Emefiele said BDC operators have become a conduit for illegal financial flows working with corrupt people to conduct illicit flows and money laundering in Nigeria.