By M.A. Egge
Illegal money changers have been rounded up in Tog-wajaale town in a clean-up operation campaign led by the Central Bank at the end of the week in efforts to cushion exchange rates stability.
In a bid to rogue out illegal money changers at the vibrant frontier town, the exercises le by none other than the Director of the Central Bank himself Mr. Mohamed Qasim Hussein Dalmar, around seventy unlicensed money changers were rounded up an had their operations curtailed and their tools of the trade and working facilities confiscated.
The administration of Tog-Wajale district and all the area security agencies participated in the operation meant to curb disruptions of the main exchange rates hence curtail scamming which spikes them.
The DG reminded the people that the Central Bank’s rules guiding the regulations of exchange rates ought to be adhered hence the stakeholders in the business have to be registered and licensed.
He gave a stern warning to operators who flout the law that action would be taken against them swiftly.
He reveled that those they rounded up hence found to have flouted the regulations number 70.
Given that Wajaale is a border town and the main gateway to Ethiopia cherishing vibrancy in the commercial sector, it was precarious and a soft spot to disrupt the exchange rates since there was a myriad of money changers.