The move to ban the Bearue De Change was announced by the CBN governor, Mr Godwin Emifele. He added that the action was necessary and was taken due to the violation of the country’s monetary policies by the Bureau De Change operators in Nigeria.
Some experts commend the decision, saying it would bring sanity to the system, while others see it as another way to give others a chance and stop others.
But shortly after the ban was announced, the price of Dollar has already gone up, and many marketers are shocked at what may happen in the forex markets, which are primarily known as “Black Markets”.
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