They can arrest who ever da fork they like it would not save the worthless naira

What was the purpose of the Economic And Financial Crimes Commission (EFCC) going after bureau de change (BDC) operators?

The law of demand and supply will always take its course.
The fundamental question is this: Who is expected to be the primary source of foreign currency transactions to the public?
It is the banks.

The Central Bank sells dollars in bulk to the commercial banks. However, the foreign currency transactions are not provided directly by the banks. A bank customer has to purchase foreign currency from outside the bank, before he can make a deposit for an international transaction.

As for the allegations of currency speculation, the federal government previously made a decision to float the naira. They have got their wish.

dawnomike:
Is Bureau de Change now illegal?

Registered Bureau de Change is legal. Their activities are monitored by the CBN, in fact, CBN sells Dollars to them.

However, very few BDCs are registered. 98% of all those people you see on the road don't have any link whatsoever with the CBN and hence, they are into money racketeering, laundering, and every monetary crime EFCC can think of.



We learn every day

stevups:


Don't let deceive you, as Peteru lost, they have decided that Tinubu will not succeed. But God pass them

How does them not protesting translate to stopping Tinubu from succeeding?
Or am I the one who's not understanding the connection?

dawnomike:
Is Bureau de Change now illegal?

It's illegal without a license..

Tinubu leaving substance and chasing shadows 🤦

Planet of the apes. That one na moni? Is that the one that will solve Nigerian national failure? Even me ma, I have changed more than $8,000 before and I'm an absolute nobody

Come and arrest me oooo. I am hoarding dollars aggressively from the new Zimbabwe.

Elliotwaveforec:
Thank God! We now have a government who strives to find solutions to challenges.

EFCC, continue the good work.

abeg make we hear word,$1 is still 1750.so shot up.

[quote author=ohil post=128595712]Why can't the EFCC come to Lagos. That is where the main dollar transactions are going on. [/quote
They already invaded Lagos ogun and ibadan this week

dawnomike:
Is Bureau de Change now illegal?

Read the words carefully, "Unlicensed".

skywalker240:

Well as a member of Ecowas, Niger, Chad citizens has free movements into the country

Anybody who can get to Nigerian Northern border can get in, ECOWAS or no ECOWAS
unless they look very different.
Moreover, Niger Republic has pulled out of ECOWAS, yet, its citizens kept
pouring in and out as they like.

What kind of headline is this?
EFCC arrests 115 Abokis...

olaolaking:
…. Recover N110m, $8,368




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