Published On: Thu, Feb 16th, 2017

CBN denies government meddling in forex policies

Central Bank of Nigeria, CBN

Central Bank of Nigeria, CBN

ABUJA, (CAJ News) – THE Central Bank of Nigeria (CBN) is denying reports the Office of the Attorney General of the Federation and Ministry of Justice had queried the apex bank over issues relating to the sale of foreign exchange.
The agencies were said to have highlighted alleged corruption in the
exchange. Isaac Okorafor, CBN Acting Director, Corporate Communications, said
although the media reports were not true, it was “perfectly normal” for any agency of government to seek clarifications on any matter from fellow agencies of government.
“We wish to state that neither the Governor of the CBN nor the Director,
Legal Services Department has received any communication with regard to
the issue,” said Okorafor.
He said the CBN, as a “responsible” and “responsive” arm of government, would always provide clarifications on any matter within its purview for the purpose of educating and enlightening all concerned.
Meanwhile, to prevent corruption, the CBN has directed all deposit money
banks to render their returns in a uniform format converting all forex sales and purchases to the US Dollar.
“Again, we urge all concerned stakeholders to always verify information on matters relating to the Bank before going public in order not to trigger
volatility in the market,” said Okarofor.
– CAJ News

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