and enforcing regulations that would curb commercial banks and individuals arbitrariness engaged in the crime.
“Given its role as the regulator, it has the responsibility to regulate all the banks and monitor them, as well as ensuring that there is compliance. We have not seen much of that happening, because if it is happening, we will not see huge sums of money leaving the country. Someone is not doing what should be done.
Acting President, Association of Bureaux De Change Operators of Nigeria , Aminu Gwadabe, said over one million operators of Bureaux De Change in the country are not registered, and as such, short-change government in terms of taxes and illicit operations. “In terms of office operations, we have automated our processes and can file returns online and in real time. As at last week, 2,288 licensed operators were able to file their returns live to the CBN portal.
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