LAGOS — Amidst intensified anti-corruption siege on banks by the Economic and Financial Crimes Commission, EFCC, Bureaux de Change, BDCs, may have come under severe vetting by the banks with indications that some of them would have their accounts closed.

Vanguard investigations also reveal that bankers are now keeping close watch on their marketers with a view to compelling strict adherence to the banks’ Know-Your-Customer, KYC, rules where abuses may attract a sack. The Central Bank of Nigeria, CBN, headquarters, Abuja Industry operators say the developments were sequel to recent revelations in some of the corruption probes which indicted about seven banks as active collaborators in the fraudulent transactions involving some public officers.

The BDCs were also said to have been heavily involved in several foreign currency denominated corruption cases currently under investigation by the EFCC, with some banks alleged to be working with the BDCs.

Read more at: http://www.vanguardngr.com/2016/06/banks-shut-doors-bdcs-politically-exposed-persons-2/

A step in the right direction.

Among the 3rd world, Nigeria appears to be the most dollarized.

Nigerian schools with Nigerian founders will demand dollars as school fees
Politicians heap 100dollar bills in their homes
You see dollar at every nook and cranny you turn to.

TPAND:
A step in the right direction.

Among the 3rd world, Nigeria appears to be the most dollarized.

Nigerian schools with Nigerian founders will demand dollars as school fees
Politicians heap 100dollar bills in their homes
You see dollar at every nook and cranny you turn to.

So dollarized that it has messed things up. In Kenya, people hardly talk about foreign currencies despite how easy it is to step into a Forex shop and buy it!

Okay

Hhmmmm...

Nice.

The Sanitization of the Country has started.

One step at a time.

dis week go de interesting. A week of banking policies

We're now getting there gradually.

Its gonna be about bank this week.

TPAND:
A step in the right direction.

Among the 3rd world, Nigeria appears to be the most dollarized.

Nigerian schools with Nigerian founders will demand dollars as school fees
Politicians heap 100dollar bills in their homes
You see dollar at every nook and cranny you turn to.

Dollarized, mehn so far give it to Ghana

Na hw this one concern me, no wonder I no understand am.

A nice move to curb corruption. Policies are beginning to take shape..

I hope it works and wont be given the usual Nigeria's "Talk more" "Do less" approach.

This is a wake up call for the very lazy banking Nigerian financial institutions are known for, they have been over feed with public funds in the past and are used to getting away with all their selfish antics, but now the game have changed and the tsunami that will soon sweep over all banks will only expose how weak our banking sector are. Expect to see news of distressed banks in coming weeks as the time for big man banking is over.

Only the wise will go into the streets, market places, villages, interiors, farmlands, SMEs, businesses begging desperately to fund them in order to generate interest from the revenue from them. That is what they should have been doing from day one, but since the rug just got pulled from under them, they have to start learning a new thing altogether or just close their shops and go home.

.

Fantastic!

So many bureau de change operators that are nothing but experts in money laundering. Such operators should be outside any reputable bank's risk appetite.

Regarding PEPs, the corrupt ones or those that have had one corruption scandal or another or any adverse media linked to them should also be exited.

Mogbe

How we do we stop our extreme dependence on the dollars. Everybody in this country does one thing or the other with dollar, most are racketeering. How do we move away from thid

PassingShot:
We're now getting there gradually.

I don't think so. The road is still very far.

truthspeaks:
dis week go de interesting. A week of banking policies

As in!

PassingShot:
We're now getting there gradually.

Why is it dat you and "Omenka" always login to nairaland @ same time

TPAND:
A step in the right direction.

Among the 3rd world, Nigeria appears to be the most dollarized.

Nigerian schools with Nigerian founders will demand dollars as school fees
Politicians heap 100dollar bills in their homes
You see dollar at every nook and cranny you turn to.

So u can be this smart?

joseph1832:
I don't think so. The road is still very far.

Yes, Road far but Identifying the problem and bringing out policies to plug it is a wonderful start.

Na implementation we dey wait

But I bet, there is Hope

cheers!

Konnektions146:


Yes, Road far but Identifying the problem and bringing out policies to plug it is a wonderful start.

Na implementation we dey wait

But I bet, there is Hope

cheers!

Amen. But still, you know implementation and sticking to it is one of the greatest problems we have in Nigeria, from the onset.

Sai Buhari

TPAND:
A step in the right direction.

Among the 3rd world, Nigeria appears to be the most dollarized.

Nigerian schools with Nigerian founders will demand dollars as school fees
Politicians heap 100dollar bills in their homes
You see dollar at every nook and cranny you turn to.

you have not been to Angola, that is only place I have seen that you buy things in dollar and get change in dollars too, other places they give change in their own currency.

Am in!

why all this wahala everywhere nah

TPAND:
A step in the right direction.

Among the 3rd world, Nigeria appears to be the most dollarized.

Nigerian schools with Nigerian founders will demand dollars as school fees
Politicians heap 100dollar bills in their homes
You see dollar at every nook and cranny you turn to.

Imagine, even Okonjo was paid in dollars under the previous administration

cool. i don talk am say this corruption fight go make bank use their head. crazy wicked mofos

Nigeria will be great again.
Good people(minus politicians) great nation.

donifez:

Dollarized, mehn so far give it to Ghana

Bros tell am o.Ghana and dollars like bread and beans.