Why CBN revoking 4,173 BDC operator’s licenses is good for Naira – CPPE

The Centre for the Promotion of Private Enterprise said revoking 4,173 Bureau De Change operator licenses by the Central Bank of Naira is good for the Naira amid the foreign exchange crisis.

The Director of CPPE, Muda Yusuf, disclosed why reacting to the recent revoking of BDCs licenses over failure to meet regulatory guidelines.

CPPE said the move to regulate the operations of the BDCs in Nigeria is laudable.

He said, “Definitely, revoking the licences of non-operational BDCs is appropriate now. It is the right move because the previous number was difficult to manage and unwieldy.”

DAILY POST recalls that the CBN revoked the licenses of 4,173 Bureau De Change operators.