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Sanusi explains reason for revoking license of BDCs

22 January 2013, 09:20

Abuja - Sanusi Lamido Sanusi, the Central Bank Governor, said the operating licenses of most of Bureaux de Change (BDCs) were revoked due to their poor adherence to guiding principles.

Sanusi disclosed this while fielding questions from newsmen at the end of the 88th Monetary Policy Committee meeting in Abuja on Monday.

``We revoke licenses when the operator does not meet the conditions of the licences. There are a number of conditions and a number of them did not meet the mandatory deposit payments.

``A number of them have closed and we didn’t seem to find their addresses. So for each of them, there was a reason and each of them knows the reason why the licence was revoked.’’

The News Agency of Nigeria (NAN) recalls that the apex bank revoked the licenses of 200 BDCs that did not meet up to the operating standards last week.



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