Raiding BDC Operators Won’t Improve Value Of Currency – Shehu Sani Tells CBN

Former Kaduna Senator, Shehu Sani has said raiding some Bureau De Change (BDC) operators will not improve the value of the naira.

Shehu Sani Reacts To Raiding Of BDC Operators

Sani stated this in a tweet on his official handle on Sunday.

Recall that officials of the Economic and Financial Crimes Commission raided the offices of black market currency dealers in Abuja on Tuesday, November 1, 2022, arresting an unconfirmed number of suspects.

The anti-graft agency officials, armed to the teeth, stormed the Sheraton Hotel area of Abuja to arrest some Bureaux De Change operators.

During the week, the naira had depreciated further against the dollar at the parallel market as it exchanged for N880 per dollar as of Monday, October 31.

This follows the Central Bank of Nigeria’s announcement that the proposed newly-redesigned naira notes would be in circulation from December 15, 2022.

The EFCC had in the wake of the recent announcement by the Central Bank Nigeria of plans to redesign and re-issue higher denominations of the naira, warned Bureau de Change operators to be wary of currency hoarders who would attempt to seize the opportunity to offload the currencies they had illegally stashed away.

According to Sani, the Central Bank of Nigeria should instead publish all the names of the real owners of the BDCs so that Nigerians can see the figures behind the facade.

He wrote, “Raiding small Bureau de Change will not improve the value of the Naira.

“The CBN should publish all the names of the real owners of the BDCs so that Nigerians can see the figures behind the facade.”

In other news, Kanyi Daily reported that Shehu Sani sent a strong message to North West and South East ahead of the 2023 general election.