The Central Bank of Nigeria (CBN) has rejected calls for the
resignation of Godwin Emefiele, its governor, over issues relating to the
exchange rate of the naira.
In July, the CBN stopped sale of foreign exchange (FX) to
earlier authorised Bureau De Change operators(BDCs).
Last week, Emefiele said the only recognised foreign
exchange market is the Importers and exporters (I&E) FX window.
He also said the monetary authority is investigating
Oniwinde Adedotun and abokiFX Limited over “illegal foreign exchange
transactions” and its mode of data information.
The decision was criticised by some Nigerians across social
media platforms — while others called for the resignation of the apex bank
chief over persistent fall in naira rates against foreign currencies at the
black market.
Speaking with journalists on Monday in Abuja, Osita
Nwanisobi, the apex bank’s spokesperson, 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”.
According to him, the CBN would not be distracted in its
mandate by yielding to selfish tendencies.
He urged the banking public to disregard claims aimed at
impugning the reputation of the bank, adding that the bank remains committed to
carrying out its mandate for the good of the Nigerian people.
Nwanisobi also assured citizens of the CBN’s commitment to
meeting the foreign exchange request of travellers 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 from customers.
The spokesman said no customer requiring foreign exchange
for genuine transactions would be turned back by their banks.
Speaking further on the ban on FX sales to Bureaux De Change
(BDC) operators, Nwanisobi said that “such a practice was not sustainable in
the long run, considering that many of the BDCs had since deviated from the
purpose for which they were issued licenses in the first instance.”
He insisted that “the rate in the CBN-unrecognised parallel
market was not the reference rate of the naira, so Nigerians should be wary of
the activities of speculators who sought to manipulate the market for
unpatriotic reasons.”
On Monday, the naira dropped to N575 at the black market and
N413 to the dollar at the I&E forex window.
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