This is the kind of news Nigerians should be debating - this is what affects all of us, not the fight over appointments by APC members.

How do we hold our banks accountable?
How can FG bring sanity into this key sector of the economy?
Do we need to give these people the kind of treatment given to judges by DSS?

This is something that affects all of us. Bank officers are making money at the expense of ordinary Nigerians who need forex for their business, education, health, etc. Instead of the banks selling forex to BDC as instructed by CBN, they were selling to abo.ki on the streets and making a fast one. In the end, we all (including the fraudulent bankers) wail that economy is in comatose, naira is depreciating and that FG is not doing enough.

This is just one of the many corruption cases involving bankers. What can we do about these people?

CBN suspends 19 banks from forex sale to BDCs

By Babajide Komolafe LAGOS—The Central Bank of Nigeria (CBN) has suspended all the banks, with the exception of First Bank, from selling dollar proceeds of International Money Transfer Services, IMTS, to Bureaux De Change, BDCs. Two months ago, the CBN had directed banks to sell proceeds of their international money transfer services to BDCs. This was in a bid to address the steady and sharp depreciation of the naira in the parallel market.

Vanguard investigation, however, revealed that most of the banks were not complying with this directive, preferring to do brisk business with the proceeds. This generated several complaints from the BDCs, with the Association of Bureaux De change Operators of Nigeria, ABCON, calling for a review of the policy measure.

Vanguard reliably gathered that the CBN decided to sanction the banks, following investigation, which revealed that most of them were either not complying or circumventing the directive. A top CBN official confirmed this development to Vanguard yesterday. Speaking on condition of anonymity, the source said: “We discovered that all the banks were not selling to the BDCs, while a few that did so occasionally short-changed them by selling at higher margin. “The only exception was First Bank, which had 500 BDCs and sold to them on regular basis. So we decided that since the bank was selling the dollars as directed, we would allow it to continue to do so.

Read more at: http://www.vanguardngr.com/2016/10/cbn-suspends-19-banks-from-forex-sale-to-bdcs/

Yet they are warning us that MMM is a fraud meanwhile our banks are the real epitome of fraud. I will never keep money in bank again as long as MMM exist.

Believe the cbn at ur own peril. What stops the cbn from selling forex direct to bdcs

Redoil:
Believe the cbn at ur own peril. What stops the cbn from selling forex direct to bdcs

Now, CBN is giving the money to Travelex to sell to Nigerians who are traveling. BCD can also buy from Travelex.

Go to MM1 today, you will see travelers queuing to buy from Travelex at 370/$. This is why the abo.ki market has been stagnant for a while.

Travelex, a foreign company is selling at the rate agreed with the CBN without shortchanging the system.

If CBN gives the money to BDC as they have done in the past, our BDC (being Nigerians) will take the money to abo.ki to sell at 500/$ and make huge margin at the expense of the masses. The same thing banks (also being Nigerians) are doing.

We are our own problem.

DSS needs to wage in and where necessary use gun-butt on erring bank MDs and BDC owners.

Nigerians are the ones killing Nigeria

This is wickedness... I have always known better that banks are our problem. God help us in this country were people some set want to thrive at d expense of 170 million people. Invariably we brought this hardships to ourselves. Its not when u do money rituals that is blood money. This is more than blood money allow millions to suffer because of greed. If this is true GOD will arise and judge them. I have seen Nigerians beg on street this year like no any order year. Families can not feed people can not go to school, marriages in problem, employers can not keep their staff. I not only blame banks but CBN as well. Na we dey do ourselves for naija.