L
LequteMan
Guest
CBN Governor, Godwin Emefiele, during his appearance before the senate recently, vowed not to go back to selling of foreign exchange to BDC operators in the country, Vanguard reports.
"We will not review the restriction on the BDCs, because we have seen that they are the ones waging a huge war against the Naira," he reportedly said.
He said that the activities of operators of BDCs were mainly responsible for the dwindling value of the Naira as they embark on rent seeking speculation of the local currency.
He also told the senators that some 2,837 BDC operators were leading the speculations against the Naira in the parallel market, adding that since stoppage of allocations to BDCs, they have been sourcing their dollars from oil companies and other foreign exchange earners.
According to him, the Senators and Nigerians should not worry about the falling value of the Naira currently, adding that the currency would soon stabilize.
"We will not review the restriction on the BDCs, because we have seen that they are the ones waging a huge war against the Naira," he reportedly said.
He said that the activities of operators of BDCs were mainly responsible for the dwindling value of the Naira as they embark on rent seeking speculation of the local currency.
He also told the senators that some 2,837 BDC operators were leading the speculations against the Naira in the parallel market, adding that since stoppage of allocations to BDCs, they have been sourcing their dollars from oil companies and other foreign exchange earners.
According to him, the Senators and Nigerians should not worry about the falling value of the Naira currently, adding that the currency would soon stabilize.
