CBN Urges Private Sector Operators to Repatriate FX Earning to Ease Pressure – THISDAYLIVE


•Tasks businesses to key into various interventions schemes to boost productivity

Nume Ekeghe

The Central Bank of Nigeria (CBN) has advised members of the organised private sector (OPS) to always ensure that they repatriate foreign exchange (FX) proceeds back to the apex bank in order to ease FX pressure in the country.

Deputy Director, Banking Services, CBN, Mr. Egboagwu Ezulu, made the call at the Association of Corporate Affairs Managers of Banks (ACAMB) maiden national stakeholders’ conference held in Lagos yesterday.

Speaking further, Ezulu also advised OPS to take advantage of the various intervention schemes of the CBN to through the Bank of Industry, the Development Bank of Nigeria and commercial banks, to boost their output.

He said: “We are taking FX out of this country and dumping offshore; when we were told to bring them back. If Nigerians are bringing back FX, we would not be talking about challenges of FX. There is a challenge…

Source: Thisday Newspaper