I actually thought News of DSS role in Forex market was mere beer parlor talk says Oby Ezekwesili.

Oby Ezekwesili, a former Vice President for the West Africa region at the World Bank, has lamented the raid of the Bureau de Change (BDC) operators by operatives of the Department of State Service (DSS).

Oby Ezekwesili is concerned about Buhari’s economic methods A shocked Ezekwesili tweeted in series of tweets on Monday, November 14 that this new method of driving down the price of forex is so unusual that Nigeria is probably headed for unknown territory in its economy now.

The former minister of education under ex-President Olusegun Obasanjo just could not understand the rationale behind raiding BDCs to drive down forex. Recall that on Wednesday, November 9, some officers of the DSS raided two major Bureau de Change markets in Lagos and Abuja. The DSS action was an attempt to crash the wide exchange rate between the naira and dollar.

Sources said the secret police agents had earlier directed all BDC operators to peg the dollar at N400 and buy at N390 from customers. Although, the DSS raid has been widely condemned by the likes of Senator Ben Murray-Bruce of Bayelsa, the raid has reportedly succeeded in driving down the naira’s exchange rate. This has however not stopped Ezekwesili from being very alarmed for Nigeria’s economic future.

Financial Watch

 

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