L
LequteMan
Guest
The Central Bank of Nigeria has warned several business owners, schools and landlords in the country from demanding for dollars as a way of paying for goods and services.
CBN Governor Godwin Emefile identified the practice as one of the reasons for the high pressure on the naira.
According to him, the official currency of the country remained the naira. He warned that the central bank would no longer tolerate what he described as the “dollarization” of the economy.
“You have heard the incidence of partial dollarization of the economy. We will take actions to prevent that; the currency for doing business in Nigeria remains the naira and we will be looking at areas where people are making demands for foreign currencies.
“People who are landlords that are asking for rents in dollars; schools are asking for school fees in dollars or transacting business in dollars.
“This is illegal in Nigeria and we will like to advise those who are involved in this practice to desist from it because the CBN will in due course come after them," he said.
#Nigeria #CBN #Dollar #Naira
CBN Governor Godwin Emefile identified the practice as one of the reasons for the high pressure on the naira.
According to him, the official currency of the country remained the naira. He warned that the central bank would no longer tolerate what he described as the “dollarization” of the economy.
“You have heard the incidence of partial dollarization of the economy. We will take actions to prevent that; the currency for doing business in Nigeria remains the naira and we will be looking at areas where people are making demands for foreign currencies.
“People who are landlords that are asking for rents in dollars; schools are asking for school fees in dollars or transacting business in dollars.
“This is illegal in Nigeria and we will like to advise those who are involved in this practice to desist from it because the CBN will in due course come after them," he said.
#Nigeria #CBN #Dollar #Naira
