The President of the Federal Republic of Nigeria, Muhammadu Buhari has said that the decision by his administration to stop the sale of Foreign exchange to bureau de change (BDC) operators is aimed at curbing fraudulent acts perpetrated by some directors of the Central Bank of Nigeria (CBN).
The disclosure was made during an interactive session with the Nigerian Community in the United Kingdom on the sidelines of the Supporting Syria Conference in London.
The President continued saying; “We found out that some directors of CBN owned bureau de change and when foreign exchange comes, they take it to their bureau de change and give government the change.
“We had to stop the federal government giving bureau the change. I am explaining this to give a tip of the ice berg of the problem we inherited. We are getting so hard because we have no other [option] than to make everybody accountable.”