Abuja - Members of the House of Representatives have been told that the recent modifications to the guidelines on the regulation of Bureaux de Change (BDCs) were aimed at conserving the country’s foreign reserves.
Addressing members of the House Committee on Banking and Currency in Abuja on Wednesday, Godwin Emefiele, CBN governor, said the modifications became necessary, following observations that the current operations of the BDCs had deviated from the objectives for which they were initially licensed, reports The Nation.
He noted that may BDC operators were only interested in widening margins and profits from the foreign exchange market
Read more at The Nation.
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