The Central Bank of Nigeria (CBN) has suspended all banks, with exception of First Bank, from selling dollars proceeds of international money transfer services (IMTS) to Bureaux De Change (BDCs).
Two months ago, the CBN had directed banks to sell proceeds of their international money transfer services to BDCs.
This was in a bid to address the steady and sharp depreciation of the naira in the parallel market.
It was revealed that most of the banks were not complying with this directive, preferring to do brisk business with the proceeds.
This generated several complains from the BDCs, with the Association of Bureaux De change Operators of Nigeria (ABCON) calling for a review of the policy measure.
Also, the CBN on Wednesday released the list of 195 Bureau d’Change (BDCs) operators suspended from the foreign exchange market.
Full list below:
1. A V AND C BDC LTD
2. A.B.R GLOBAL BDC LTD
3. A.Y. MAIKIFI BDC LTD
4. ABD GLOBAL RES BDC
5. ACCORD BDC LTD
6. AFRICIANE BDC LIMITED
7. AIFAT BDC LTD
8. AITETCO BDC LTD
9. ALBARAKA BDC LTD
10. ALFA OMEGA BDC LTD
11. ALL CURRENCY BDC LTD
12. AMALI BDC LTD
13. AMAZON BDC LTD
14. AMEER AND AMEERA BDC LTD
15. ANIEZI BDC LTD
16. ANTICS BDC LTD
17. APPROACH BDC LTD
18. AVS BDC
19. AWO BDC LTD
20. AWWALU BDC LTD
21. AYA BDC LTD
22. B A I B BDC LTD
23. BAFFS BDC
24. BANBIZ BDC LTD
25. BETHESDA BDC
26. BIWODRIS BDC LTD
27 BLUE WATER LAKE BDC
28. BMF BDC
29. BONDED FUNDS BDC
30. BRIDGING-THE-GAP BDC
31. CAFO BDC LTD
32. CASHFLOW BDC LTD
33. CELANDY BDC LTD
34. CHANGE BDC LTD
35. CHIKATINA BDC LTD
36. COMPATIBILITY BDC LTD
37. CONFIRMED FOREX BDC LTD
38. CONQUEST BDC NIG LTD
39. CONSUMER BDC LTD
40. COOL-CURRENCY BDC LTD
41. CORADEEN BDC LTD
42. D. A. NA’IBI BDC LTD
43. D. KAIGAMA BDC LTD
44. DAASO BDC LTD
45. DABO GATE IDEAL
46. RESOURCES BDC LTD
47. DALCHI BDC LTD
48. DAN AMANA BDC LTD
49. DAN BDC
50. DAN DAGACHI BDC LTD
51. DAN SAMBO BDC LTD
52. DANALKALI BDC LTD
53. DANBARE BDC LTD
54. DANIK BDC LTD
55. DARLEZ BDC LTD
56. DELIGHTSOME BDC LTD
57. DELIVER BDC LTD
58. ELMAR BDC LTD
59. ERONMON BDC LTD
60. EVER READY BDC LTD
61. EXCHANGE BDC LTD
62. EZENWATA BDC LTD
63. F&E BDC Ltd
64. FARI BDC
65. FASTRACK BDC LTD
66. FEMA BUK BDC LTD
67. FIRST FRUITS FOREX ROYAL BDC LTD
68. FOREXCARE GLOBAL BDC LTD
69. Fundsrite BDC
70. FUNNACLE BDC LTD
71. GAHASAHA BDC LTD
72. GAJA BDC LTD
73. GIANTSTRIDE BDC LTD
74. GRANGE BDC LTD
75. GUBACO BDC LTD
76. H Y D BDC LTD
77. H. M. A. GANO BDC
78. H.M YAHAYA BDC LTD
79. HAJAR BDC LTD
80. HAMJAF BDC LTD
81. HANKOOK BDC LTD
82. HERB ALPERT BDC
83. HIGH SPEED BDC LTD
84. HILTON FOREX BDC LTD
84. HITECH MICROSYSTEMS
85. HLF BDC
86. I C S L BDC
87. I.A RUWATA BDC LTD
88. I.S.M. BDC LTD
89. IBRAHIM BDC LIMITED
90. IMMEDIATE BDC LTD
91. INDEXMARK BDC LTD
92. INTEGRITY BDC LTD
93. INTEGRITY GLOBAL IMPEX BDC LTD
94. INTERCURRENCY
95. EXCHANGE BDC LTD
96. INTERGRLOBAL BDC LTD
97. INTERLINE BDC LTD
98. INTERNATIONAL CURRENCIES
99. INTERVIVOUS BDC LTD
100. INTRODUCTION BDC LTD
101. INVESTOR GLOBAL SOLUTION BDC LTD
102. I-ONE-C BDC LTD
103. ISA ABDULLAHI BDC LTD
104. ISHIRA TAKHIR BDC LTD
105. JIDO BDC LTD
106. JIGAWA FIRST CHOICE BDC LTD
107. K C ECHETA BDC
108. KARAFA BDC
109. KGM BDC LTD
110. KURHI BDC
111. LAKEVIEW BDC
112. LAMBLIGHT BDC LTD
113. LINE HOME DC LTD
114. LORDSVINE BDC LTD
115. MABINAS BDC LTD
116. MACOL BDC LTD
117. MAINSTREET BANK BDC
118. MAISHUNI ULTIMATE 119. TRUST BDC
120. MAKERA BDC LTD
121. Manilla Invest & Sec Ltd
122. MARCH POINT BDC LTD
123. MARFRED FOREX EXCHANGE BDC LTD
124. MAULANA BDC LTD
125. MILJAY BDC
126. MOMA YUSUF BDC LTD
127. MUCHI BDC LTD
128. MURMO BDC LTD
129. NAMANI BDC LTD
130. NAMSE BDC LTD
131. NANYA MERCHANTS BDC LTD
132. NEIGHBOURHOOD BDC LTD
133. NETWORK RELATED BDC LTD
134. NEW HOPE BDC LTD
135. NORTHGREEN BDC LTD
136. NOTES & COINS BDC
137. OAKWOOD BDC LTD
138. P & K BDC LTD
139. PAKI BDC LTD
140. PARTNERS BDC LTD
141. PARTNERS GLOBAL INVESTMENT LTD
142. PEANARD BDC LTD
143. PHOENIX BDC LTD
144. Pioneer BDC LTD
145. PREMIER MONEY TRUST BDC
146. PRISCA AND PRINCE BDC LTD
147. PROJECT 007 BDC LTD
148. PRONTO SEED BDC LTD
149. PRUDSAIL BDC LTD
150. PURE – GOLD BDC LTD
151. QUINTESSENCE BDC LTD
152. RAHMA BDC LTD
153. RAPID BDC LTD
154. RAYHAN BDC LTD
155. RAYUS BDC LTD
156. RECEPTION BDC LTD
157. RECOVERY PACKAGE BDC LTD
158. RELATE SOLUTIONS BDC LTD
159. RODNEYS
160. SAULAWA BDC
161. Sha Dai BDC
162. SHAYNA BDC LTD
163. SILK BDC LTD
164. SIRBEN BDC LTD
165. SOCIAL TRUST BDC
166. SOFPIC BDC LTD
167. STB Bureau de Change
168. STILLWATERS BDC LTD
169. STONE CUT BDC LTD
170. STRIVE WATA BDC LTD
171. SULTO BDC LTD
172. SWANKY INTERCONTINENTAL BDC LTD
173. SYRAH CLEAN EXCHANGE BDC LTD
174. TAFIDA BUREAU DE CHANGE LTD
175. TAHIR BB BDC LTD
176. TARU BDC
177. TASU’A BDC LTD
178. TEEKEN BDC LTD
179. TRAVELEX RETAIL NIGERIA BDC
180. TRUST LAND BDC LTD
181. TWO-IN-ONE BDC LTD
182. UBA FX MART BDC
182. UMMATU HABIBULLAH BDC LTD
183. UNION LINKS BDC
184. UTOPIAN BDC LTD
185. VAL BDC LTD
186. VANDI KWAKWA BDC LTD
187. VILLAGOLF BUREAU DE CHANGE
188. WAITAKER BDC LTD
189. WAPS BDC LTD
190. WHITE CARROT BDC LTD
191. YAN RIYYAL BDC LTD
192. ZABONE BDC LTD
193. ZENITH BANK PLC BDC
194. ZOBIC VENTURES BDC LTD
195. Zumunci BDC LTD
So the BDCs is that much? no wonder the Naira will never recover, too many hyenas scavenging the Naira. F.G needs to do something about this proliferation of BDCs who are gloves in hands with the banks, making useless our Naira.