CBN supports DSS raid on blackmarket forex traders | Nigeria News Today. Your online Nigerian Newspaper f

The Central Bank of Nigeria (CBN) on Tuesday endorsed the crackdown on parallel market forex traders by the officials of the Department of State Services (SSS) across the country.

The CBN Governor, Godwin Emefiele, disclosed this while addressing journalists at the end of its Monetary Policy Committee (MPC) meeting in Abuja.

According to Mr. Emefiele, the foreign exchange regulation in the country forbids trafficking in currency.

He said that the SSS had the right to enforce the law and make sure that currency hawkers were forced out of the “illegal trade.’’

The governor, who said it was demeaning for traders to hawk currency on the streets, urged the traders to legitimise their business by applying for Bureau De Change (BDC) licence.

Officials of the SSS raided the parallel markets in Lagos, Abuja and Onitsha last week over alleged arbitrary sale of forex.

The raid, which worsened dollar scarcity at its wake, forced the naira to settle at N465 to a dollar.

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  1. Vodoo economy. It is now clear that Nigeria is now a police state; Banana Republic. Very sad!
    APC is a disaster.
    It now very clear that APC government does not have what it takes to lead a country like Nigeria.
    APC is now synonymous with lies, deceit, blackmail, favoritism, Familism, Nepotism, witch hunt, tribalism, corruption and intimidation.
    Above all, all they are after is how to inflict maximum pain, hardship, hunger, malnutrition, famine, joblessness and hopelessness on the ordinary people.
    By the time this useless APC government is through with Nigeria, those lucky to be alive will know that khaki no be leather.
    Chanji Dole!
    Sai Baba!
    Sai Tinubu!
    Sai Amaechi!
    Sai El Rufai!

  2. isiaka, I challenge you to go on any IQ testing website and take a test then paste the result here on NE.

    1. Stop that...who told you isiaka knows what IQ is!!! Bros Isiaka IQ is Intelligence Quotient okay...

    2. Children clap for Obaseki! Kpamkpamkpakpamkpamkpam! Semi literate fool! I know you people that claim what you are not. Idiot! Your excessive intelligence quotient made you to donate your life saving for Baba and APC. hunger de worry you and hunger affect reasoning. Kidnapper and pimp. I know your useless political thug.

    3. Isiaka is openly showing his mannerless and corrupt side in this forum. And I ask, how much have u received that is so big enough to be so jobless except to be posting unethical and nonsense comment to every post involving FGN of Nigeria? Where were u when it was run by some selfish individuals for 19 years to land us where we find ourselves now? People like you who will stop at nothing to collect chikini money from them criminals and corrupt politicians thereby selling ur dignity and birthright and go criticising the ruling government are the ones allowing them freehand to do anyhow and milk the country dry. What can do we have to show for the 19 years of bad governance in this country? Check other countries that started the same time with us. Gabon started diversifying since 2009. Today they rely on their own food after banning some importation in 2009. The samething Baba did now and Nigerians are shouting trying to frustrate the government effort just to make sure that the policies are reversed to favour their pocket and their pocket only. Isiaka they don't care about u. The only think u get of them is the money they pay u to serve as their instrument or element of destruction just to gain more for themselves. I hope u realise this before it is too late..

  3. Mumu governor. Why una dey cure headache leave malaria? If one can get fx from banks wetin go carry me go Aboki place? And if no body petronize dem cos there is alternative at the no go reduce price? Or if bank rate is N1 And available why waste time chasing BDC ppl? N.a. wah for these square pegs in round holes.


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