Godwin Emefiele Speaks on Lifting CBN Restrictions on Foreign Exchange

CBN-Gov

Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, has said no decision has yet been taken on the foreign exchange controls put in place last year.

Reacting to speculations that the CBN might have bowed to pressures from the National Assembly, the International Monetary Fund and the organised private sector on the calls for the reversal of a cocktail of the FX restrictions, Emefiele said such decision would only be taken after all options must have been effectively looked into.

The apex bank governor disclosed that the monetary authority was studying some of the recommendations in line with the directive of President Muhammadu Buhari to explore all options in addressing the current foreign exchange challenges.

“There is a range of issues we are looking at right now and I can assure you we will make our decisions public once we are ready,” he said.

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