Those behind calls for Emefiele’s resignation are being selfish — CBN

Central Bank of Nigeria Governor, Godwin Emefiele
CBN Governor, Godwin Emefiele

The Central Bank of Nigeria (CBN) has faulted calls for the resignation of the bank’s governor Godwin Emefiele over issues relating to the exchange rate of the naira.

Spokesman of the bank Osita Nwanisobi said on Monday night that “those behind such calls were only pursuing their selfish agenda fueled by those who had long benefitted from rent-seeking practices in the parallel forex market.”

Mr Emefiele took drastic measures in recent times. He ratified the decision to stop sale of foreign exchange to authorised bureau de change operators.

Last week, following the monetary policy committee meeting, Emefiele said the CBN was investigating founder of Aboki FX Oniwinde Adedotun over “illegal foreign exchange transactions” and its mode of data information.

Mr Nwanisobi urged the banking public to disregard claims aimed at impugning the reputation of the bank, insisting that the bank remained committed to carrying out its mandate for the good of the Nigerian people.

The CBN spokesman assured that the apex bank remained committed to meeting the foreign exchange request of travelers with legitimate needs as they relate to travel allowances, payment of tuition, and medical fees among other invisible.

Speaking further on the ban on foreign exchange sales to BDCs, Nwanisobi said that “such a practice was not sustainable in the long run, considering that many of the BDCs had since deviated from the purpose for which they were issued licenses in the first instance.”

He insisted that “the rate in the CBN-unrecognised parallel market was not the reference rate of the naira, so Nigerians should be wary of the activities of speculators who sought to manipulate the market for unpatriotic reasons.”