The Economic Implication of BDC Ban - By: .

OPINION: The recurrent unavailability of forex at banks unarguably worsened the situation. In averting the pitfalls of 2016 which drove many people to the black market, can commercial banks meet the surging demands for dollars?

In an attempt to salvage naira and curtail the excesses of Bureau De Change operators who exploit and artificially inflate dollar/naira exchange, the Central Bank of Nigeria stopped the sales of forex to them. There are apprehension and speculations that the directive will stir artificial dollar scarcity and mount pressure on the naira – thereby, a spike in dollar/naira exchange rate.

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Daily Trust /  🏆 13. in NG

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