NewsRescue
As the Department of State Security, SSS has embarked on raiding BDCs to force a reduction in dollar exchange rates in the parallel market, the Central bank under Godwin Emefiele has slashed dollar supply to the central Bureaux De Change (BDCs) by 46% to force a hike in rates.
Maintaining duplicity in forex rates between the inter-bank and parallel market enables the cabal rake billions a former CBN governor Sanusi Lamido Sanusi alerted.
The central bank governor Godwin Emefiele has been accused of constantly maintaining the rate gap while selling forex to his friends like Aliko Dangote and other cabal who he turns into instant billionaires.
The SSS has been conducting raids in Abuja mostly and Lagos. To this effect, while an increase in $ supply to marketers to 20,000 per BDC was expected so as to reduce prices, Godwin Emefiele rather slashed the quota from $15,000 per station to $8000, pretending that his intention was to share forex to other states.
In essence, Godwin Emefiele was taking the dollars out of the central zones, Abuja and Lagos where 90% of transactions are made and where the SSS agents are focused, and sending the dollars to other states to allow continued sale at N473 and above per dollar.
See more on how Emefiele manipulates Forex market to make billions
