December 18, 2017

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BDC ASSOCIATION WANTS CAPITAL BASE REDUCED TO N15M, DENIES FUNDING TERRORISM

BDC ASSOCIATION WANTS CAPITAL BASE REDUCED TO N15M, DENIES FUNDING TERRORISM

By Omololu Ogunmade 

bureau-de-change

 

Bureau de Change operators under the aegis of the Association of Bureau De Change of Nigeria yesterday sought the intervention of the Senate Committee on Finance over the directive by the Central Bank of Nigeria (CBN) instructing them to raise their capital base from N10 million to N35 million and urged the committee to prevail on CBN to reduce the sum to N15 million.

 

Led by its acting President, Mr. Aminu Gwadabe, the group told the committee that it had met with the Governor of CBN, Mr. Godwin Emefiele, on the issue earlier yesterday and demanded a refund of N500,000 mandatory cautionary deposit collected from each of the 2,500 operators, amounting to N1.2 billion by the CBN.

 

Read more here.

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