The Central Bank of Nigeria, CBN, has put Deposit Money Banks on notice that it will stop selling forex to them by the end of 2022.
CBN Governor, Godwin Emefiele, made this known in Abuja on
Thursday at the end of the Bankers’ Committee Meeting where he also
introduced the RT200 Programme.
Emefiele said the time had come for the banks to go out there and source
for forex by funding entrepreneurs with ideas.
The CBN, Emefiele said, will support the banks by granting rebates and
other support until the banks find their feet in sourcing their forex by
themselves.
