Even as the national currency, the Naira, has gradually begun to regain its value relative to the dollar and other major trading currencies, despite some reversals in recent weeks, there is optimism in many quarters that the currency is on the path of better stability as well as an exchange rate that more accurately reflects is true value.
Surely, the action of the apex bank in this respect is not unconnected with a court order empowering the EFCC to freeze at least 1,146 bank accounts owned by various individuals and companies allegedly involved in illegal foreign exchange transactions. It would appear that most banks and other financial entities have been complacent and lethargic as regards their duty to properly identify those who seek to open accounts with them, and the source of the funds accepted as deposits.