By InvestAdvocate

Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) Wednesday announced it has revoked the operating licences of 236 Bureaux De Change.

This is contained in a Circular with reference number TED/FEM/FPC/GEN/01/041 posted on the official website of the CBN.

The Circular signed by Batari Musa, Director, Trade and Exchange Department of the CBN reads thus: “This is to inform all Authorised Dealers and Buyers (BDC Operators) and the General Public that the operating licenses of 236 BDC Firms have been revoked with effect from January 14 2013.

The last paragraph states that all Authorised Dealers/Buyers and the General Public are advised that with effect from January 14 2013, and foreign exchange transactions including sale and purchase from the said BDCs as well as transfer of funds through them and or on their behalf is illegal.

Click Below here to download full list.