NewStats: 3,264,581 , 8,184,165 topics. Date: Wednesday, 11 June 2025 at 03:56 PM 3t4r2n

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Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) has said the apex bank has discovered that a significant portion of the dollars bought by the BDCs went into illegal arms deals.

He said this, on Friday, while briefing journalists at the end of the September Monetary Policy Committee meeting of the bank.

The MPC retained all key rates, citing economic recovery as an incentive.

Emefiele vowed that the bank will go after those who are accessing dollars illegally.

“Whether it’s Boko Haram, kidnapping and all sorts of nefarious activities, BDCs take our country’s dollar and sell to people to go and buy arms and ammunition to come and hurt us.”

“That’s what people want us to continue to do. We cannot do that any longer. We can’t. If you have any legal, legitimate business you want to conduct, please take your business to a bank, they will sell you forex.

“If the amount you want is even above the limit that is recognised and we find that the reasons you are making this demand is legitimate, your bank will speak to us and we will give you more than what is the limit,” he said.

He told individuals and businesses to always approach the banks for legitimate forex needs.

He also said the CBN will continue the crackdown on those who obtain forex for fraudulent means.

“We go after people who use fake visa and other travel documents to fraudulently procure forex from the commercial banks through EFCC and other anti-graft agencies.”

“The only exchange rate that I recognize today in the Nigerian foreign exchange market which is the dominant market remains the Investors & Exporters window, which is the market that we expect everybody that wishes to procure foreign exchange or somebody who wants to sell foreign exchange, go to your bank, the Investors & Exporters window will attend to you. I’m sorry to say that I do not, and I do not intend to recognise there are any other rates in the market” he said.

https://dailytrust.com/terrorism-criminals-buy-dollars-from-bdcs-to-import-arms-emiefele

Back and forth policy

starbn:
Back and forth policy

The man is about to loose his job, & the irony is that the black market are banks number one customers.

starbn:
Back and forth policy

Yet his banker friends are making billions of Naira profit every year? They should dollars only through the banks for Jim Ovia, Otunba Balogun, Elumelu, Atedo Peeterside & co, most especially Jim Ovia his Oga, to be milking the masses? Only your banker friends should control dollars? Just like crypto, since your banker friends can’t monopolize it, ban it? Thief.

For real ?

Buckeyemedia1:
Yet his banker friends are making billions of Naira profit every year? They should dollars only through the banks for Jim Ovia, Otunba Balogun, Elumelu, Atedo Peeterside & co, most especially Jim Ovia his Oga, to be milking the masses? Only your banker friends should control dollars? Just like crypto, since your banker friends can’t monopolize it, ban it? Thief.

Sharap

Useless ultra dullard called Emeiefele

SarkinYarki:


Sharap

Zombie Zenith Bank Plc Employee

SarkinYarki:
Useless ultra dullard called Emeiefele

Mumu Jonathan employed him, Mumu Buhari retained him, double jeopardy.

Buckeyemedia1:
Zombie Zenith Bank Plc Employee

Shameless BDC operator

SarkinYarki:

Shameless BDC operator

Cashier the banks are the problem , monopolist, everyone knows this other than financial magas, let CBN keep chasing shadows,? Because to Emefiele BDCs keep their terror dollars @ home, not lodged in his friend’s Banks?

SarkinYarki:

Shameless BDC operator

Only a Mumu will exchange his forex in a bank, but how would you know, what business do you have with foreign exchange? When last did you hold a foreign currency? Just to be wailing upandan.

CBN governor has jumped from pure economics to dirty politics
Attack Buhari's terrorist brothers and your days are counted!

Yen yen yen yen yen
Naija dey auto pilot

Mr Emefiele should do the needful and declare bureau d change as an illegal business. Anyone buying or selling forex outside the banks should be treated as a criminal.
To all.those who have made their mind to always criticize Me Emefiele can you please allow the man breathe.
This crazy parallel illegality was established by Gen Babaginda to siphon money out of Nigeria,and closing it down will take some time and balls from any CBN governor.
We all need to the CBN governor as he cleans the Agusean stable. Currency speculation,Currency trading must be declared an economic crime and anyone caught doing it must be sent to jail.
The CBN governor declared only banks will sell forex in Nigeria some months ago and the heavens didn't fall,even to my suprise,Gen Buhari didn't reverse the decision,that shows the Governor was right in his decision.
For those who are trying to beat the system by using illegal visas to purchase forex,Mr Emefiele must force the embassies to open an hotline or a web portal where the banks can confirm people's visa before selling forex,anyone caught using fake visas to buy forex should be treated as a scapegoat,and charged with currency speculation and fraud.
God bless Nigeria.

Ok

CBN governor should just resign/sacked .........


He is blaming everyone, but himself..... Chasing shadows and kicking the can, down the road.........


What is buhari's economic team doing...........

Greed is also our problem..

- You sell to aboki, they form association to increase the rates..

- you sell to banks, rather than sell to end s, they sell to aboki, whom form association to increase the rates..

B

Mumu talk

And how does the arms get into the country?

Good morning everyone

Mecka:
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https://dailytrust.com/terrorism-criminals-buy-dollars-from-bdcs-to-import-arms-emiefele

Lonelyhrt1:
Mumu talk

Mumu talk shey, E go reach off all una no worry

Now they're fighting terrorism.... LoL.

I guess b'cuz terrorist use bike too Nigeria should ban importation of bike into the country. Also, Boko Haram and bandits use mobile phones, we should also ban use and sales of phone. Kill BDC for the abokis jare. Let them feel the heat of this malistration. It should go round

Innocent babies, Pastors and Imams buy from banks and CBN, yeah right. EFCC boss just said that he would not expose the sponsors of terrorism. This is despite knowing them.

Buckeyemedia1:
Yet his banker friends are making billions of Naira profit every year? They should dollars only through the banks for Jim Ovia, Otunba Balogun, Elumelu, Atedo Peeterside & co, most especially Jim Ovia his Oga, to be milking the masses? Only your banker friends should control dollars? Just like crypto, since your banker friends can’t monopolize it, ban it? Thief.

You are writing nonsense. It's only in Nigeria that you have black market dollar prices besides many of these BDCs have been indicted for sponsoring terrorism through illegal purchase of arms. If you have a legitimate reason to purchase the dollar, go to the bank and stop wailing.

NA DIS KAIN POLICY DEY MAKE NAIRA FALL FREELY

WHEN OUR LEADERS GO GET SENSE BA? TO UNDERSTAND FREE MARKETS AND ABOLISH PRICE CONTROL SYSTEMS!

I MIGHT JUST START STOCK PILING $$$$$

WITH ALL THIS STUPIDITY EXPECT 1000NAIRA TO 1$ BY DEC!!!!!