A group of agitators have called for a complete suspension of Bureau De Change, BDC business, urging the Government to involve recognized financial institutions to carry out the exchange transactions.
The groups, Coalition of Civil Society Groups, CCSG requested that the Governor of Central Bank of Nigeria, CBN, ‘suspend the BDC operators’ activities in totality and supply money to the commercial Banks.’
CCSG made the call in Abuja when it organized a counter-protest against other groups calling for the eviction of the CBN Governor from office over the inability to manage the economy properly.
According to the Group, several policies initiated by Godwin Emefiele have positively impacted the lives of many Nigerians, creating jobs, and millions of Nigerians are happy and grateful.
“It is without a doubt that the Effort of CBN in ensuring the protection of Bank customers, adequate supervision of Deposit Money Banks and Other Financial Institutions; and deepening of financial inclusion through an influential banking and payments system in recent times has yielded positive results.” The Group said.
Group Hails Apex Bank’s Action Towards Unlicensed BDC Business
Meanwhile, they applauded the sincere effort to salvage the naira, the bank stop of sales of Forex to Bureau De Change (BDC) Operators who exploit and artificially inflate dollar/naira exchange. ‘We applaud this move to discourage illicit financial flow, BDC racketeering and indiscriminate round-tripping.’
Speaking on some crucial and effective strategies the bank’s boss deployed, CCSG hinted that the Anchor Borrowers Programme had increased yield per hectare, and the Country’s food security is a plus to the CBN.
This policy, among others, supports the drive by the Government to diversify the economy and stimulate growth in the agriculture sector. CCSG said.