At the recently concluded MPC meeting yesterday where the CBN voted to hold MPR at 12% for the 12straight month, the CBN Governor was quoted as saying something quite remarkable.
“There is something absolutely wrong with bureaux de changes buying hundreds of millions of dollars and not being able to account for them… We think these monies are part of a money laundering exercise and we will have to deal with it,”
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Can’t account for it? How? Its obvious politicians are not,affected at all by the cashless policy as all they have to do too move money around is to buy forex.