A group of lawyers and Non-Governmental Organizations (NGOs) under the aegis of Lawyers In Defence of Economic Rights (LIDER) have praised the recent decision of the Central Bank of Nigeria (CBN) to place an embargo on the weekly supply of forex to Bureau de Change (BDCs) in the country.
Recall that the Governor of the apex bank, Godwin Emefiele, had recently announced the measure, which he explained, was to halt underhand dealings in the market by operators.
The group said in a statement Monday that the decision is not only commendable, courageous but also meant to end illicit transactions and corrupt briefcase billionaires.
The organization noted that the apex bank’s commendable decision was a right step in the right direction towards stopping the act of robbing Peter to pay Paul.
LIDER, which made its position known in a statement by its leader, Barrister Chisom Nduka Edede, said the decision was meant to streamline the nation’s forex market and bring sanity to the foreign exchange system.
According to the organisation, the development can also be described as using one stone to kill many birds by tackling corruption, money laundering and terrorism among other societal ills bedevilling the nation.
The Organization alleged that most BDC operators are very lazy, yet so rich, describing them as billionaires without owning factories or industries but feeding fat on the nation’s forex.
The organisation said: “With this noble decision, Emefiele and his team have fired Bazuka for corruption, money laundering and terrorism.
“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.”
