No more selling dollars to people who buy arms – CBN
No more selling of dollars to people who buy arms – CBN
The Governor of Central Bank of Nigeria (CBN) Godwin Emefiele has said that the apex bank cannot continue to sell dollars to people who purchase arms to hurt Nigerians.
He said this on Friday after the Monetary Policy Committee (MPC) meeting which was held in Abuja, the nation’s capital.
Emefiele explained that the financial markets regulator is determined to eliminate the activities of illegal FOREX traders.
According to him, the CBN remains the only national bank in the world that will dip its hand in the country’s reserve to sell dollars to Bureau de Change operators in the market.
“Nobody ever mentions the rate of Bureau de Change in the city of London. It really beats my imagination that Nigeria carried on with this kind of practice that tended to support illegal activities of people who are involved in graft and corrupt practices,” he said.
“We have supported the activities of those who illegally buy foreign exchange from this illegal market, carry them in aircraft out of the country and go to buy arms and ammunition and bring them into the country to commit crimes.
“We, the Central Bank, take our country’s dollars and sell to people to buy arms and ammunition to come and hurt us. That is what we are saying that people want us to do, we cannot do that any longer.”
