Report banks hoarding forex, CBN tells Nigerians

In view of the lingering foreign exchange scarcity in the country, the Central Bank of Nigeria has urged Nigerians not to panic, saying there is enough forex for business owners, travellers and parents with students abroad to meet their obligations.

CBN Governor, Godwin Emefiele, stated this on Tuesday at the 278th MPC Press Briefing in Abuja.

He also said at least $80m are disbursed to banks on a weekly basis to enable Nigerians meet their forex responsibilities.

He, therefore, charged Nigerians to report any bank withholding forex to a special call centre of the apex bank.

Punch had reported that the lingering foreign exchange scarcity in Nigeria was taking a heavy toll on foreign tuition payment, as many parents and guardians groan over difficulty in paying their children’s school fees.

Business owners including airlines have also lamented the scarcity of forex especially in the purchase of their spares.