The Central Bank of Nigeria on Tuesday
warned schools, landlords and other business enterprises against
demanding foreign currencies for the settlement of transactions carried
out within the country.
The CBN Governor, Mr. Godwin Emefiele,
gave the....
warning while briefing journalists shortly after the end of the
two-day Monetary Policy Committee meeting, which was held at the
central bank’s headquarters in Abuja.
Emefile said the official currency of the
country remained the naira and warned that the central bank would no
longer tolerate what he described as the “dollarization” of the economy.
The CBN governor said if the development
remained unchanged, the bank would be forced to go after such
organisations that were in the habit of demanding foreign currencies for
the settlement of transactions.
He said the bank had identified the practice as one of the reasons for the high pressure on the naira.
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