The Center for Fiscal Transparency and Integrity Watch (CFTIW) on Saturday raised the alarm over the free fall of the naira and its adverse effects on Nigerians and the economy.
The Central Bank of Nigeria (CBN) has issued regulations to mitigate the forex crisis, the recent being a circular directing the “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks”.
In a press release by Head of Public Relations, Victor Agi, the CFTIW urged the apex bank to spotlight the operations of Bureau De Change (BDC), particularly requesting the publication of the Beneficial Owners of all licensed BDCs.
The anti-corruption body said this was necessary given the opacity that surrounds BDC operations, lending credence to the speculation about the potential for exploitation and manipulation within the sector which continues to weaken the naira in the free market.
“Currently, there are no adequate data on BDC operations to understand…
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