Update From . COM

The Central Bank of Nigeria has vowed to arrest and prosecute Nigerians using naira to buy dollars.

For those taking money from banks to buy dollars, it is illegal to do so. If the security agencies hold you, you will know the implication of that,” Godwin Emefiele, CBN governor, said Tuesday at the Monetary Policy Committee (MPC) meeting in Lagos.

Reading the riot act to bank customers, Mr Emefiele urged Nigerians illegally exchanging naira for dollar to stop, adding that the apex bank would conduct investigations and bar those found culpable from conducting transactions in Nigerian banks.

Mr Emefiele disclosed the apex bank’s monitoring of customers and banks, warning that the CBN would sanction banks caught in illegal transactions. “We will conduct investigations, and we will have proof, and you will not be able to conduct transactions in any Nigerian bank. We will place ‘post no debit’ on the defaulting customer’s account.

The warning followed the central bank’s efforts to prevent further deterioration of the naira’s value and the country’s economy.

Source: https://www.google.com/amp/s/nationaldailyng.com/cbn-vows-to-arrest-any-nigerian-buying-dollars-with-naira/%3famp=1

Cc: Lalasticlala Mynd44 And Seun

Lol

Igbayi la ro

Z

Lol

Arrest those politicians first

It was probably taken out of context. I believe he was talking about the politicians specifically.

He wasn't...a friend in UK had his Nigerian account restricted cos one of his inflows had purchase of fx as narration

Seun:
It was probably taken out of context. I believe he was talking about the politicians specifically.

He wasn't...a friend in UK had his Nigerian account restricted cos one of his inflows had purchase of fx as narration

Emefiele Godwin is indeed a joker.
Is this how he and Buhari plans to make Naira equal to dollar?

Just because you can't make the Naira gain value, u want to vent out your frustrations on Innocent Nigerians. Learn to do your job properly and stop looking for culprit for a loophole u created

Lalasticlala Mynd44 And Seun

I think he's trying to encourage people to Buy from their bank, when ever they need fx. It's a good move!

This is terrible.

omorttee4u:
I think he's trying to encourage people to Buy from their bank, when ever they need fx. It's a good move!

Banks don't have either,where do one go from here?

Lame!

When we knew buying from Bank no easy, I tried buying one thousand dollars earlier last month, the process is killing with all the dumb bank requirements.

sonssyo:


Banks don't have either,where do one go from here?

Banks do have!

You have to notify them2 weeks ahead of the needy and the purpose, school fees, BTA. You must come wiith evidence.

Laughable. It's impracticable pronouncements like this that worsen the fate of the naira.

He should directs his warning to bank officials, politicians and influential people in society because getting dollar from the bank by average citizen is one hell of a task.

These people especially banks,buy from CBN at official rate and sell higher at black market with huge profit.

Seun:
It was probably taken out of context. I believe he was talking about the politicians specifically.

Seun. I made a post this Morning on the politics section and I was banned by the antiSpam bot. The post I made was also deleted and I clearly wasn't violating any Nairaland rule. Please, can you restore the post?

The post was was made in the politics section. Can you restore it please?

Nonsense governor. Come and arrest

omorttee4u:


Banks do have!

You have to notify them2 weeks ahead of the needy and the purpose, school fees, BTA. You must come wiith evidence.

It's approved and provided by the CBN. I was in a bank when one of the bank staff confirmed to someone that there are many unapproved applications that had been pending for like 2 months if i recall correctly.

samsard:
It's approved and provided by the CBN. I was in a bank when one of the bank staff confirmed to someone that there are many unapproved applications that had been pending for like 2 months if i recall correctly.

If that's true, then corruption hit that section too, every angle to make things right in Nigeria, we Nigerians are corruption imppeded!

omorttee4u:


If that's true, then corruption hit that section too, every angle to make things right in Nigeria, we Nigerians are corruption imppeded!

There's no section of Nigerian life unaffected by corruption. And I know for a fact that people were applying for PTA and selling it because of the difference between black market and official rates.

samsard:
There's no section of Nigerian life unaffected by corruption. And I know for a fact that people were applying for PTA and selling it because of the difference between black market and official rates.

What am I even saying? I'm a first hand experienced on that!

A friend of mine back then, I think it was during yar'dua Godluck jonathan regime.

Where those guys collides with an insiders, they claimed BTA dollar with fake visa and then sell too breeau de change. I can remeber vividly, those guy cash out big time then!

Seun:
It was probably taken out of context. I believe he was talking about the politicians specifically.

Oga Seun Move To Homepage Please

Werey people. But we can buy dollar with naira abi. Ode oloripipa.

Nigeria economic policy makers inflicting more pains on the struggling masses, while the political class are moving funds about, unrestricted.