BREAKING: Terrorists using our Dollars to import weapons into Nigeria – CBN Governor

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele has said that some people are collecting dollars from Bureau De Change operators and use them to import weapons in order to harm Nigerians.

He said this on Friday while speaking at the end of the Monetary Policy Committee meeting held at the apex bank’s headquarters in Abuja.

He said that the CBN decided to stop the sale of FOREX to Bureau De Change operators because they have become a source of foreign exchange for criminals to perform their nefarious activities.

The CBN Governor said, “It truly beats my imagination that Nigerians continued with this type of practice (selling dollars to BDC) that tended to promote illegal activities who are involved in graft and corrupt practices.

“We won’t support the corrupt tendencies of those who illegally buy dollars from our forex market, carry them in aircraft, buy arms and ammunition and bring them back into the country and conduct crimes. Whether it is Boko Haram, banditry and other nefarious activities.”

“Why will CBN give people our forex to go and buy arms? And that is what people want us to continue to do. We cannot do that. What we are saying is that if you have any legitimate need for forex, take it to the bank and they will sell you FOREX.”

Meanwhile, Emefiele disclosed that the Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent.

It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

Announcing the committee’s decision, Emefiele said, “The MPC made the decision to hold all parameters constant. The committee thought by unanimous vote to retain the Monetary Policy Rate at 11.5 per cent.

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