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BREAKING: CBN stops sale of Forex to BDCs

The Central Bank of Nigeria (CBN) has stated that it has stopped forex sales to Bureau De Change (BDC) operators in the country.

This was announced by the governor of the apex bank, Godwin Emefiele 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.

Details later

WITHIN NIGERIA had earlier reported that the Central Bank of Nigeria (CBN) has stated that it will launch the pilot scheme of its digital currency by October 1, 2021.

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