GistMedia0:
In a spine-chilling turn of events, the streets of Abuja became a battleground today as the Economic and Financial Crimes Commission (EFCC) clashed with Bureau De Change (BDC) operators in a nail-biting confrontation that left bystanders in utter shock.

Eyewitnesses describe the scene as something straight out of an action-packed thriller, as EFCC agents descended upon the BDC operators with an air of intensity rarely witnessed on the streets of the capital. With tensions already running high, the situation quickly escalated into a heart-stopping showdown as both sides refused to back down.

Caught in the midst of this terrifying spectacle, bystanders scrambled for safety as shouts filled the air and the sound of scuffling reverberated through the streets. Mobile phone cameras captured the chaos, with footage showing the intense standoff between the EFCC agents and the defiant BDC operators.


https://www.youtube.com/watch?v=uK5irtWFs0o

Konquest:

I'm only gonna respond to your post so that you don't mislead folks here. You didn't read my reply properly otherwise you would not have responded the way you did in a very uncouth manner.

Just to be very CLEAR, accredited BDCs exist in major countries of the world but NOT Illegal Aboki-style black market currency speculators which the EFCC had an altercation with.
The black market currency speculations is what I condemned here NOT accredited BDCs.

I'm a well-traveled man Internationally and incidentally have flown to those two geographical locations of the world that you quoted and more for business and leisure travels, so, I know what obtains Internationally.

abysirius:
The abokis are involved in all of this economic brouhaha..

SoNature:
Politicians are converting their naira into dollars ahead of 2027 elections and EFCC is busy harassing businessmen on the streets. If this is how patch-patch CBN governor wants to stabilise the naira, he obviously has a long way to go!

BallisticToto:

mod9:
[The banks would sell the dollars 💵 to BDC. The best thing is to criminalize BDC and anyone found with dollars should go to jail. quote author=fastseo post=128540814]

iLoveYouToo:



Madam banks are complicit. Nigerians are just bad people, the monies would end up in the hands of Aboki. CBN should stop giving cash (dollars) to banks, all transactions must be processed electronically

BDC business should be declared illegal with immediate effect otherwise the Naira slide won’t stop

HarunaWest:
Isnt itbthe same banks that are sellimg to the BDC? Greed and corruption has finished Naija. Banks will always tell toubthat they dont have newly printed notes, but BDC always have available. Who give them?

Segzy19:
The banks are the culprit... They get the dollars from the CBN but sell at the black market for higher and corrupt gains.

fastseo:


First you should know that we are in a democracy and in all sane countries I see exchangers exchanging different currency.

Previously government do supply BDC which was the usual practice before they stopped it during Buhari period. Then even stop selling to banks, BDC all together. Banks were asked to source for dollars themselves.
But even at then.. BDC still got their dollars through various means and even where the ones supplying banks at that time.

Right now, do you know that there is no pounds in any bank? Even in black market no pounds as at today. Expect pounds to hit 2300 soon.
Then blame BDC.


The problem is APC, they mismanaged the economy.

iLoveYouToo:


You didn’t offer any solutions or suggestions


We can’t copy the rest of the world, their currencies aren’t sinking the way ours is.

Desperate times require desperate measures.

CBN pumped dollars into the economy, within weeks the dollars disappeared. Exchange rate still took a nosedive

fastseo:

Pump 50m dollars or max 200m. That won't cure the problem.
Pump as much as possible or just Clear all request done through banks.
When you pick up a mastercard and wants to buy items online it should go.
When you want to pay for services online... It should go.
Buy goods from China... It should go or we deal on currency swap with them

The bottom line is tinubu and Buhari mismanaged our economy.. Before in 2006,2003 etc dollar was not a problem. Why now

Was that how it used to be before.