Godwin Emefiele under fire as CBN moves to stop sale of forex to banks

The Central Bank of Nigeria goenror, Godwin Emefiele is currently under fire over the move by the apex bank to stop the sale of foreign exchange to banks by the end of the year.

IDOMA VOICE repots that the CBN Governor had said the banks must begin to source their forex from export proceeds.

Emefiele made the comments at a briefing during the launch of the bank’s new forex repatriation scheme, RT200, held after the Banker’s Committee meeting on Thursday, in Abuja.

“The era is coming to an end when, because your customers need 100million dollars in foreign exchange or 200 million dollars, you now want to pack all the dollars and pass it to CBN to give you dollars.

“It is coming to an end before or by the end of this year. We will tell them don’t come to the Central Bank for foreign exchange again go and generate your export proceeds.

“When those export proceeds come, we will fund them at 5% for you and they will earn rebait. Then you can sell those proceeds to your customers that want 100 million dollars. But to say you will continue to come to the Central Bank to give you dollars, we will stop it,” the CBN boss had said.

This move did not go well with many Nigerians who described Emefiele as the worst CBN governor ever.

Many linked the new policy tot he perceived presidential ambition of the top banker.

See reactions from angry Nigerians below.