FX RATES
FX RATES

CBN Faults Calls for Emefiele’s Resignation

The Central Bank of Nigeria (CBN), has faulted claims from certain quarters calling for the resignation of the CBN Governor over issues relating to the exchange rate of the naira.

The Spokesman of the Apex bank, Mr. Osita Nwanisobi while speaking with reporters yesterday in Abuja alleged that those behind such calls were only pursuing their selfish agenda fueled by those who had long benefitted from rent-seeking practices in the parallel forex market.

Nwanisobi said: “The CBN would not be distracted in its mandate by yielding to the selfish tendencies of a few to the detriment of the majority.”

He urged the banking public to disregard claims aimed at impugning the reputation of the Bank, insisting that the Bank remained committed to carrying out its mandate for the good of the Nigerian people.

Nwanisobi also assured that the CBN remains committed to meeting the foreign exchange request of travelers with legitimate needs as they relate to travel allowances, payment of tuition and medical fees among other invisibles.

He noted that there was enough supply of foreign exchange to the banks to meet legitimate demands for foreign exchange.

Nwanisobi, who insisted that no customer requiring foreign exchange for genuine transactions would be turned back by their banks, urged the banking public to insist on their rights to be attended to as long as they possess all the requisite documents to validate their request.

Reiterating the stance of the CBN Governor, Godwin Emefiele, on the willingness of the Bank to meet the demands of customers, the spokesman said the CBN would not hesitate to approve foreign exchange for customers with legitimate demands that exceed transaction limit insofar as the application is supported with specified requirements.

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