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Wednesday, 25 September 2013

Sanusi Confirms Nigeria As Biggest Importer Of US Dollars

Governor Central Bank of Nigeria, CBN, Mallam Lamido Sanusi disclosure yesterday that Nigeria has become the world’s biggest importer of United States dollars.

He noted that the situation had to be reversed. Speaking in Abuja after the 234th meeting of the Monetary Policy Committee, Sanusi expressed worry over suspected money laundering activity through the bureaux de change segment of the forex market and said the CBN was determined to curb such abuses and keep the naira stable According to him, new guidelines that would make transactions at the bureaux de change, BDC, market more closely monitored and spell out stiffer penalties for infractions of the guidelines.

Sanusi said the move became necessary in view of perceived lapses within the BDC sub-sector of the foreign market in recent times and the need to ensure strict compliance with the rules in the market.

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