The Manufacturers Association of Nigeria, MAN, has charged the Central
Bank of Nigeria, CBN, to stop funding the Bureau de change market.
In a statement , the President of MAN, Chief Frank Jacobs, said: Ït
is difficult to understand why, in the first instance, these outfits
should depend on official allocation of forex by the CBN for their survival.
“The Bureau De Change market should provide alternative funding
window to the economy, in which case they source their forex
independently from other sources and supply to the forex market. It is
difficult to understand their real functions with the kind of
arrangement Nigeria has.
