The Central Bank of Nigeria (CBN) has said it is not allocating the US Dollars but has rather set up an interbank foreign exchange market for anyone interested in buying the currency.
Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said this in a statement on Sunday.
Emir of Kano, Sanusi Muhammad II, had on Friday said the country’s foreign exchange management lacked credibility.
Sanusi had said Nigeria has five different exchange rates, claiming that the CBN allocates dollars.
But Okorafor said denied that the apex bank does such.
Okorafor said, “The channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians are open. It is rather unfortunate that some people have chosen to play to the gallery and to make statements to disparage those in leadership at this time in total insensitivity to the larger interests of the Nigerian economy.
“We should not forget that the seed of our current economic crisis was planted by the failure of those who occupied public offices in the past but failed to act in the long-term interest of the Nigerian economy. It is easy to criticise from outside.”
He said the CBN will continue to find solutions to the economic situation of the country.
Okorafor said, “The challenge we face today is a choice between pandering to the established interest in Nigeria’s speculative economy and the protection of the wages of the real stakeholders who work hard on fixed incomes and are the core victims of naira depreciation.
“Already, Nigerians are waking up to the call to be more productive and look inwards, and to be less dependent on the importation of foreign goods and services.”
0 Comments