Ex-minister condemns DSS raid on BDC operators

monjola sotubo

November 14, 2016 4:02 PM

The DSS raid took place on November 10, and resulted in the arrest of operators who were selling the dollar at any price above N400.

Former education minister, Oby Ezekwesili has criticized the recent raid by the Department of State Services (DSS) on Bureau De Change (BDC) offices in Lagos and Abuja.

The DSS raid took place on Thursday, November 10, and resulted in the arrest of operators who were selling the dollar at any price above N400.

Ezekwesili made the comment on Monday, November 14, via Twitter and urged the government to review its economic philosophy.

“The immediate impact of a forceful "law&order-type" intervention of DSS in Forex market is NOT sustainable & will drive market UNDERGROUND,” she wrote.

“There is a reason for the Economic idiom -- "You cannot eat your cake and have it". Our Forex policy & management needs to lean on this.

ALSO READ:Controlling Forex market with guns is height of insanity

“I wonder @ what stage the Federal Government will admit that something is unhinged in its mostly Statist Economic Philosophy? #NotWorking,” she added.

The DSS raid is believed to be an attempt by the government to regulate a foreign exchange crisis that seems to be spiraling out of control.

monjola sotubo

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