President of Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe says the recent discovery of huge sums of money in Lagos by the Economic and Financial Crimes Commission, EFCC, has vindicated its members.
Speaking with newsmen in Lagos on Friday, Gwadabe said that ABCON was shocked by the development, saying that the real enemies of Nigeria and the Naira were gradually being exposed.
Recall that EFCC on Wednesday recovered over 43 million dollars, N23 million and 27 thousand Pounds sterling from a building at Ikoyi, Lagos.
Gwadabe said every well meaning Nigerian has seen that the issue of depreciation of the Naira was beyond the BDCs.
“Only God knows the quantum of money that is outside the banking sector,’’ he said.
He said that it was unacceptable for an individual or group of individuals to store such volume of money at home.
Gwadabe said hoarding and currency speculation was no longer profitable, urging members of the public to desist from such acts in the overall interest of the economy.
He further called on the Central Bank of Nigeria (CBN) to critically look into developments in banks, where unutilised foreign exchange were returned to it in spite of long queues of persons waiting to buy them.
“I hear that 100 million dollars was given to the banks recently and only 45 million was used.
“The CBN should look into the position of the banks and see how the unused foreign exchange can be earmarked for the BDCs,’’ he said.