CBN vows to deny more items from forex

Governor of the Central Bank of Nigeria, Godwin Emefiele, has said more items will soon be denied foreign exchange from government institutions and Nigeria banking industry.

Emefiele spoke while addressing newsmen at the retreat for ministers designate in Abuja.

He said the bank will not go back on the directive of President Muhammadu Buhari on food importation into the country.

He explained that the president’s directive was in the logic of CBN’s management foreign exchange policies that started since 2016.

President Muhammadu Buhari had directed the Central Bank of Nigeria to stop providing foreign exchange for importation of food into the country.