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BREAKING: CBN bans sale of forex to BDCs

The Central Bank of Nigeria has hit at the Bureau De Change (BDC) for illegal forex trading and will henceforth discontinue the sale of forex to the Bureau operators in Nigeria.

The governor of the CBN, Godwin Emefiele made this known while addressing the press during the MPC briefing on Tuesday, 27th July 2021.

The Central Bank also confirmed that they will no longer license new BDC operations in the country and have also halted all current processes for new licenses.

The Governor, while making these announcements, promised to deal “ruthlessly” with Nigerian banks caught in these illegal acts.

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