The Sokoto State Chairman of Bureau De Change (BDCs) Operators Association, Alhaji Aliyu Yar-Abba, has commended the ban on the sale of foreign exchange to BDCs in the country.
Yar-Abba told newsmen in Sokoto on Monday that the policy had greatly helped to sanitise the operations of BDCs.
“The Federal Government, especially President Muhammadu Buhari, deserves a pat on the back for implementing the policy.
“Though unpalatable and highly criticised by some Nigerians, the ban is good and the government should not rescind its decision,’’ he said.
According to him, only genuine operators will now remain in business.
While calling on CBN to remain resolute and committed, Yar-Abba also blamed the problems bedevilling the sub-sector on unpatriotic speculators.
He, however, called on the Federal Government to accord foreign students and genuine industrialists a special waiver.
The chairman also appealed that companies with genuine outstanding goods due for importation should be given special consideration.
Besides, Yar-Abba commended Buhari for refusing to devalue the Naira, saying that it would be detrimental to Nigeria’s economy.
He also called for reduction in banks’ lending rates to enable more Nigerians to borrow for domestic investments.
“CBN should consider reduction of its lending rate from the present 12 per cent.
“Doing so will encourage industrialists to borrow money to revive dead industries and ailing ones as well as establish new ones.
“This will help to reduce unemployment and restiveness as well as the attendant negative consequences on security, peace and unity.
“I, therefore, urge the federal government to sustain its current efforts to improve the economy and the nation at large,’’ Yar-Abba implored. (NAN)
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