₦airaland Forum

[B]Central Bank Governor, Emefiele Blames Nigerians Travelling To UK, US, Others For Education For Naira Fall[/b]

Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) says the number of Nigerians seeking foreign education is to blame for the fall of the naira.

Emefiele said this at the 57th Annual Bankers Dinner, organised by the Chartered institute of Bankers Nigeria (CIBN), in Lagos.

The dinner had the theme, “Radical Responses to Abnormal Episodes: Time for Innovative decision-making” was appropriate and well timed.

According to Emefiele, there was tremendous increase in visa issuances to Nigerians by the United Kingdom in 2022 alone.

The apex bank governor noted that the number of student visas given to Nigerians by the United Kingdom spiked from a yearly average of about 8,000 visas in 2020 to almost 66,000 in 2022, implying an eight-fold increase amounting to $2.5 billion yearly in study-related forex outflow to the UK alone.

He stated that the move had immensely put pressure on Nigeria’s foreign reserves and the Naira.

According to him, due to this and the need to increase forex earnings, the CBN and the Bankers’ Committee started the RT200 scheme in February 2022.

He added that the steady increase in headline inflation from 15.60 per cent in January to 20.77 per cent in September was consistent with global trends.

“Food remains the major component of domestic consumer price basket. The annualised uptick in headline inflation mirrors the 6.21 percentage points upsurge in food inflation to 23.34 per cent in September.

“During this period, core inflation also resumed an upward movement from 13.87 per cent in January to 17.60 per cent.

“In addition to harsh global spill overs, exchange rate adjustments and imported inflation; inflation was also driven by local factors such as farmer herder clashes in parts of the food belt region,” he said.

https://saharareporters.com/2022/11/26/central-bank-governor-emefiele-blames-nigerians-travelling-uk-us-others-education-naira

Rubbish. CBN gov lik givin excuses 2 shift blame away from his gang of elites who are destroyin monetary &fiscal policy

After blaming Forex traders, Crypto traders and Bereau De Change? Where are their own children schooling?

CBN will soon claim Naira is falling because Nigerians don't eat only one meal pay day.

Na so dem go dey beat around the bush like the urchins who defend Tinubu's babla blu.

immortalcrown:
After blaming Forex traders, Crypto traders and Bereau De Change?

Na so dem go dey beat around the bush like the urchins who defend Bubu and Agbado.

What’s your highest qualification?

CoronaVirusRelo:
What’s your highest qualification?

What for? Shame on you if you don't respond with a justification of your question.

Do you need your highest qualification to understand this post?

This fool will not respect himself after blaming bureau de change operators. Grossly clueless & incompetent always passing the buck.

Emefiele now apportioning blames except himself who's all round incompetent.....

I can imagine his clueless and foolishness to vie for a political office and still remains in the office.

Buhari should sack this man......

Nigeria and lies when, Kai.... Instead of admitting and finding solutions, they rather look for a childish lie and excuse.

God punish all of una , clueless bastard at the helms of power , by the way our politicians 8,is it not their children that patronise abroad university pass?

The last I checked, Buhari kids, Osibanjo kids, and majority of Nigerian Leaders kids also schooled abroad.

Yes, blame ordinary Nigerians whose only crime is running away from a country that’s out to destroy their destiny

Emefiele abi wetin be ya name...

Students abroad also make huge forex remitances

I personally don't like Student studying abroad taking our petrol dollars that we got through Niger Delta.

If you feel like paying your tuition abroad, then go to Aboki BDC and buy at the blackmarket price

We Spend atleast $2billion USD or #1.4trillion Naira annually on paying Tuition fees abroad.

Give this money to ASUU and give Nigerian University a full turn around, we will have some of the best Universities in Africa and also attract Students accross Africa




.

Rate of exchange rate for foreign service is high

They want a president that will do.miracle yeye

APC and blame are 5&6, they never take responsibility for anything nor have solutions to the unending hardship they brought upon Nigerians. Always pushing blames

Anyone still supporting APC is compound fool and completely useless

If you agree with me please gather here and raise your hand

Lol they will blame everyone and anything but not themselves.

Bunch of Blu bla blu

Nigeria, the blame game country!

Make una rest for tinubu matter na, na so una talk about buhari's blunders that year, yet he became ur president for good 8years, all these can't stop him from winning the election, however I'm a no fan of tinubu as I'm fully obidient! My point is let the youth come out and vote massively for their choice on election day and stop criticizing one person because it doesn't add up. Look at the economic mess we are in currently? So is it tinubu grammatical blunder that's our concern now? Haba!

They will never take responsibility. Them must find person to blame.

Tufiakwa

Pathetic. This man is bringing so much shame to us. He and the Minister of Finance are the reason our economy is in shambles. Incompetent set of people.

Obasanjo got it right by appointing competent people into his cabinet. The reason Nigeria has gone down hill since is because we have not put our best hands in sensitive positions. The president has allowed tribal and political factors to affect his choice of appointment.

We are always looking for who and what to blame clueless administration

i'm sure his kids are in school/went to school outside the country, so he contributes to it too

66,000 visas


That's a huge figure within a year!

See talk, they blame everybody except themselves, they are the cause why people are running away but they still blame the people running away

If you see ants running away from an ant-hole then there is threat bigger than what they can handle.

So it's no longer aboki fx?

Smh

Ok

And your children are schooling from?

Lame!

CoronaVirusRelo:
What’s your highest qualification?

What's your highest qualification too over sabi.
How much do you own to your name too?

slivertongue:
Rubbish

It's not rubbish.

He has explained a crucial factor.

The media can call it 'blame'.

Still politicians' children and relatives.