The
Central Bank of Nigeria (CBN) has increased its surveilance of Bureau de Change
(BDC) operators following reported cases of fereign exchange abuses.
The
development followed activities of the the BDCs which failed the
recapitalisation test of the CBN, but which are still operating. The CBN said
it is committed to bringing sanity into the forex market and the only option
left for it now is to increase its surveillance.
But
it was gathered last night, that the apex bank would deploy the approach of
utilising the recapitalised BDCs as agents of international money transfer, to
ensure gradual elimination of the unrecapitalised ones.
“The
CBN is careful not to cause panic in the market by
