Nigeria’s apex bank has said the country is the highest net importer of the US dollar in the world, hence it is planning a policy to further moderate Bureau de Change (BDC) activities.
The local media Wednesday quoted Governor of Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi as saying the BDC’s have been buying million of dollars without accounting for them.
“We think there is something absolutely wrong with the BDCs buying hundreds of millions of dollars and not being able to account for them. We think that this money is not being used for the importation of goods and services; we think it is a part of a money laundering exercise and we will have to deal with it.
“We also think that the whole policies around massive withdrawal and deposit of cash should now move from naira to dollars, and we have to stop the situation where Nigeria has become the highest importer of the United State currency in the world,” he said.