CBN Governor Gives Strict Condition To Allocate Foreign Exchange For Demands

Emefiele said, “Indeed, I want to put it on record; if the amount you want is even above the limit that is recognised and we find that the reason you are making those demands is legitimate, your bank will speak to us and we will give you more than what is even the limit.”

He further insisted that the Central Bank recognizes the Investors and Exporters (I&E) Window as the major market which anyone seeking to procure or sell foreign exchange should patronise and encouraged customers to go to their banks for their FX needs.

CBN Governor added, “The only exchange rate that I recognise today in the Nigerian foreign exchange market which is the dominant market remains the Investors and Exporters (I&E) window.”

“I am sorry to say that I do not and I do not intend to recognise that there are any other rates in the market.’’