CBN assures of enough dollars for all Nigerians

The Central Bank of Nigeria (CBN) has called on Nigerians not to panic because there is enough foreign exchange for business owners, travellers and parents with students abroad to meet their obligations.

Godwin Emefiele, governor of CBN gave the assurance on the heels of the persistent foreign exchange scarcity in the country.

Emefiele, while addressing newsmen at the 278th MPC in Abuja, said at least $80m are disbursed to banks on a weekly basis to enable Nigerians meet their forex responsibilities.

He, therefore, urged Nigerians to report any bank withholding forex to a special call centre of the apex bank.

It will be recalled that the lingering foreign exchange scarcity in Nigeria was taking a heavy toll on foreign tuition payment, as many parents and guardians groan over difficulty in paying their children’s school fees.

Business owners including airlines have also lamented the scarcity of forex especially in the purchase of their spares.

Emefiele, however said, “Part of the measures that we have adopted is that on a weekly basis, the CBN disburses not less than $80m to the banks either for Personal Travel Allowances or payment of school fees.

“We have created a complaint desk where you can call us or call some of our people who will respond. It is like call centres, where people can call that they went to a particular bank and they didn’t get money to pay school fees or they didn’t get money to travel.”

“There is no need for anybody to panic,” the CBN governor stated, adding that positive indices including exit from recession, diasporan remittances and stable crude oil prices, will buoy forex availability.

“We are very optimistic that there is enough foreign exchange and there will continue to be enough foreign exchange for people to meet their obligations. We just need people to be patient.

“There is no need for everybody to rush to the bank at the same time creating panic and giving speculators an opportunity to reap us off,” he added.