Central Bank of Nigeria (CBN) said yesterday it will refund the N35 million cautionary deposit by Bureaux De Change (BDCs) following its suspension of foreign exchange sales to BDCs.
The CBN had imposed N35 million cautionary deposit on all BDCs operating in Nigeria.
In a circular dated January 22 signed by Mr. Kelvin N. Amugo, Director, Financial Policy and Regulation Department, titled ‘Refund of Mandatory Cautionary Deposit,’ said BDCs may apply for their refund.
“Given the recent development in the operations of BDCs in the economy, the CBN has decided as follows: The refund of cautionary deposit of N35 million to all BDC operators, the retention of N1 million licensing fees,” the circular said.
It added “all eligible BDCs may wish to apply for refund of their caution deposit, attaching evidence of payment and bank transfer details.”
The Economic and Financial Crimes Commission (EFCC) yesterday interrogated former Governor of Akwa Ibom State Godswill Akpabio over allegation of financial crimes. Daily Trust gathered that Akpabio honoured the invitation by the anti-graft agency to explain allegations of looting of the state’s funds during his tenure. Sources told our correspondent that Senator Akpabio was being interrogated late yesterday evening at the Abuja head offices of the Commission. He was spotted at the EFFC office in company of a Senior Advocate of Nigeria, Rickey Tarfa, at about 5:20pm. Akpabio’s arrest yesterday is fallout of the petition by an Abuja-based lawyer and activist, Leo Ekpenyong, who had on June 8 this year petitioned President Muhammadu Buhari and the EFCC, calling for Senator Akpabio’s probe and accusing him of looting. The petitioner had earlier on Wednesday adopted his petition and provided more details to the anti-graft agency on the allegations against the minority leader of People...
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