CBN Raises Concerns Over Economy’s Partial Dollarisation

The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has raised concerns over the partial dollarisation

of the nation’s currency and called on commercial banks in the country to take appropriate measures to check the trend.

Responding to questions from reporters after the Monetary Policy Committee meeting in Abuja, Mr Emefiele said that the apex bank may also be left with no option than to clamp down on the activities of Nigerians who insist on doing transactions with foreign currencies.

He, however, expressed optimism that the naira would rebound after the elections.

Meanwhile, the Monetary Policy Committee meeting left the interest rate unchanged at 13% while ‎liquidity ratio was pegged at 30%