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From Ndubuisi Orji, Abuja
An NGO, Lawyers In Defence of Economic Rights (LIDER), has hailed the decision of the Central Bank to place an embargo on the weekly supply of foreign exchange to Bureau De Change (BDCs).
The group, in a statement by its chairman, Chisom Nduka Edede, said in a statement on Monday that the policy will help to tackle corruption and money laundering.
It noted that the CBN’s new policy on foreign exchange will also go a long way in sanitising Nigeria’s forex market.
‘With this noble decision, [CBN Governor] (Godwin) Emefiele and his team have fired a bazooka at corruption, money laundering and terrorism,’ the statement read.
‘This decision is not only commendable but also courageous. It is meant to end illicit transactions and corrupt briefcase billionaires.
‘We admit that, like any other good policy, this policy can cause temporary discomfort but in the long run, the gains are enormous and will be permanent.
‘We urge Nigerians to give the CBN the necessary support and show understanding while Emefiele and his team continue to set the nation’s economy on the path of sustainable growth,’ it stated.
