Tobi Adebayo
The Central Bank of Nigeria (CBN) has announced that it has stopped the issuance of licenses to Bureau De Change operators in Nigeria.
CBN governor, Godwin Emefiele made the announcement during a press briefing after the Monetary Policy Committee’s two-day meeting in Abuja on Tuesday.
Emefiele lamented that the modus operandi of BDC operators had become disgraceful to the country.
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He stated further that BDC operators have continued to aid and abet corruption and money laundering for politicians and shady Nigerians.
The MPC also retained the Monetary Policy Rate at 11.5 percent.
“The MPC made the decision to hold all parameters constant. The committee thought by unanimous vote to retain the Monetary Policy Rate at 11.5 percent.
“In summary, MPC voted as follows, one, retain MPR at 11.5 percent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 percent, and retain the Liquidity Ratio at 30 percent” Emefiele said.
