CBN spokesperson disputes calls for Emefiele’s resignation

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Central Bank of Nigeria spokesman Osita Nwanisobi criticized allegations in some quarters about the resignation of CBN Governor Godwin Emefiele on issues relating to the exchange rate of the naira.

In a statement on Tuesday, Nwanisobi claimed that those behind the calls were only continuing their selfish agenda fueled by those who had long benefited from rent-seeking practices in the shadow foreign exchange market, which he claimed. refused to recognize as an important segment of the country’s forex. Marlet.

According to him, the CBN would not allow itself to be distracted in its mandate by giving in to the selfish tendencies of the few to the detriment of the majority. He urged the banking public to ignore allegations aimed at damaging the reputation of the Bank, insisting that the Bank remains committed to fulfilling its mandate for the benefit of the Nigerian people.

Nwanisobi also ensured that the CBN remains committed to meeting the demand for foreign currency from travelers with legitimate needs for travel allowances, payment of school fees and medical expenses, among other unseen.

He noted that there was enough foreign currency in banks to meet legitimate demands for foreign currency.

Nwanisobi, who insisted that no customer requiring foreign currency for genuine transactions would be turned away by their banks, urged the banking public to insist on their rights to be taken care of as long as they had all the documents. required to validate their request.

Reiterating the CBN governor’s position on the Bank’s willingness to respond to customer requests, the spokesperson said the CBN would not hesitate to approve foreign currencies for customers whose legitimate demands exceed the limit of transaction as long as the request is processed with specified conditions.

While reaffirming the bank’s decision not to reconsider the issue of allocating foreign exchange to Bureau de Change operators, Nwanisobi argued that such a practice was not sustainable in the long term, given that many BDC had since strayed from the purpose for which they were licensed in the first place.

Insisting that the parallel market rate unrecognized by the CBN was not the benchmark rate for the naira, Nwanisobi urged Nigerians to be wary of the activities of speculators who sought to manipulate the market for unpatriotic reasons.


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