Exchange Rate: “Only People With Selfish Agenda Want Emefiele To Resign” – CBN

Godwin Emefiele

The Central Bank of Nigeria (CBN) has rejected calls for the resignation of its governor, Godwin Emefiele, 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 benefited 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.

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