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.

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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