Nigeria: Reps Summon CBN Governor Over Ban On Foreign Currency Deposits

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The House of Representatives has on Tuesday summoned the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele to make clear the apex bank’s recent policy barring commercial banks from accepting foreign currency deposits.

CBN Governor

The decision to summon Emefiele was made after a motion on matters of Urgent Public Importance brought by Hon. Emmanuel Ekon from Akwa Ibom State was taken.

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The motion was titled: “Need for the Governor of Central Bank of Nigeria to Address the House on CBN’s Foreign Exchange Policy on Rejection of Foreign Currency Deposits by Commercial Banks in Nigeria.”

The Honourable said it was necessary for the CBN boss to appear before the house, so he can sensitize Nigerians on the new policy as the policy might become counterproductive as it appeared to have been misunderstood already by the public.



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