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CBN Governor, Mr. Godwin Emefiele
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The Central Bank of Nigeria on Tuesday warned schools, landlords and other business enterprises against demanding foreign currencies for the settlement of transactions carried out within the country.
The CBN Governor, Mr. Godwin Emefiele, gave the warning while briefing journalists shortly after the end of the two-day Monetary Policy Committee meeting, which was held at the central bank’s headquarters in Abuja.
Emefiele said the official currency of the country remained the naira and warned that the central bank would no longer tolerate what he described as the “dollarization” of the economy.
The CBN governor said if the development remained unchanged, the bank would be forced to go after such organizations that were in the habit of demanding foreign currencies for the settlement of transactions.
Source: punchng.com
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