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(CBN) has revoked the licence of 101 Bureaux De Change (BDC) companies for their
involvement in money laundering and other financial infractions.
The CBN, in a circular released stated that the revoked BDCs had inadequate documentations
on huge foreign exchange purchased from banks.
These are the means our scarce foreign exchange was wasted during Sanusi's era, thereby
destroying the value of Naira.
Naira recovered a little this weeks after nearly a year of continues bashing as result of selling
the scare dollar to friends and relatives that have bureau de change company.
The CBN in the circular said that the BDCs were unable to provide satisfactory evidence of the
purchase and utilization of autonomous foreign exchange.
Mr Isaac Okoroafor, CBN spokesperson, in a text message, confirmed to NAN the revocation
of the operating licences of 101 BDCs.
“The BDCs were involved in money laundering and failure to provide adequate records and
documentation of huge autonomous foreign exchange purchased from banks,” Okoroafor said.
Hope For Nigeria
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