• About
  • Privacy Policy
  • Contact
Tuesday, July 15, 2025
No Result
View All Result
NEWSLETTER
Diplomatic Info
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
No Result
View All Result
Diplomatic Info
No Result
View All Result
Home ECOWAS Nigeria

Nigerians using naira to buy dollars will be arrested; it’s illegal: CBN

by Diplomatic Info
July 20, 2022
in Nigeria
0
Nigerians using naira to buy dollars will be arrested; it’s illegal: CBN
0
SHARES
76
VIEWS
Facebook ShareShare on WhatsAppTweet it!

The Central Bank of Nigeria has threatened to arrest and prosecute Nigerians using naira to buy dollars.

“For those taking money from banks to buy dollars, it is illegal to do so. If the security agencies hold you, you will know the implication of that,” Godwin Emefiele, CBN governor, said Tuesday at the Monetary Policy Committee (MPC) meeting in Lagos.

Reading the riot act to bank customers, Mr Emefiele urged Nigerians illegally exchanging naira for dollar to stop, adding that the apex bank would conduct investigations and bar those found culpable from conducting transactions in Nigerian banks.

Mr Emefiele disclosed the apex bank’s monitoring of customers and banks, warning that the CBN would sanction banks caught in illegal transactions.

“We will conduct investigations, and we will have proof, and you will not be able to conduct transactions in any Nigerian bank. We will place ‘post no debit’ on the defaulting customer’s account. It is a very injurious tool to stop you from conducting illegal flows, either domestic or foreign currency,” added the CBN governor.

The warning followed the central bank’s efforts to prevent further deterioration of the naira’s value and the country’s economy.

The naira on Monday crashed to a historic low at the parallel market, exchanging for N620 against the U.S. dollar, according to the exchange platform Aboki Forex. 

The CBN, in July 2021, stopped foreign exchange transactions with bureaux de change.

Diplomatic Info

Diplomatic Info

Next Post
‘New’ NNPC will sell fuel at price dictated by FG: Kyari

‘New’ NNPC will sell fuel at price dictated by FG: Kyari

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

At least 20 killed by suicide car bomb blast in Somalia

At least 20 killed by suicide car bomb blast in Somalia

4 years ago
Sudanese army, paramilitary forces trade fire, accuse each other of violating cease-fire

Clashes renew in Sudanese capital despite cease-fire deal

2 years ago

Popular News

  • Communal clash: Osun Govt. imposes 24 hour curfew on 2 LGAs

    Communal clash: Osun Govt. imposes 24 hour curfew on 2 LGAs

    0 shares
    Share 0 Tweet 0
  • Buhari arrives Washington for U.S.-Africa leaders summit

    0 shares
    Share 0 Tweet 0
  • After two years of SEC denial, Oando can finally hold AGM

    0 shares
    Share 0 Tweet 0
  • I snubbed governors Tinubu sent to beg me after election; I’ll not stop fighting until Supreme Court rules: Atiku Abubakar

    0 shares
    Share 0 Tweet 0
  • Israeli president says situation ‘very serious’ amid judicial overhaul debate

    0 shares
    Share 0 Tweet 0

Connect with us on Facebook

Subscribe to Our Newsletter

Enter your email now to join our community of readers, and get new contents straight to your inbox

We promise to not spam you

Thanks for joining in.

Category

  • Africa
  • Benin
  • Burkina Faso
  • Business
  • Cote D'Ivoire
  • Cover Story
  • Diplomacy
  • ECOWAS
  • Education
  • Embassy News and Info
  • Events
  • Ghana
  • Guinea
  • Guinea Bissau
  • International
  • Liberia
  • Mali
  • News
  • Niger
  • Nigeria
  • Politics
  • Programs
  • Security
  • Senegal
  • Sierra Leone
  • The Gambia
  • Togo
  • Uncategorized

Quick Links

  • About
  • Contact
  • Privacy Policy
  • Advertise

About Us

Providing strategic insights into important social, cultural, political, and economic factors that significantly influence business and nations, Diplomatic Info will examine these critical issues and provide strategies that create competitive advantages.

© 2023 Diplomatic Info - Built with Love by Creovantage.

No Result
View All Result
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Business
  • Politics
  • Security
  • News
  • Cover Story
  • Africa
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • The Gambia
    • Cote D’Ivoire
    • Ghana
    • Cabo Verde
    • Benin
    • Burkina Faso
  • International
  • Contact

© 2023 Diplomatic Info - Built with Love by Creovantage.