Friday, February 17, 2017 8:30 AM / CBN
The attention of the Central Bank of Nigeria (CBN) has been drawn to a media report suggesting that the Office of the Attorney General of the Federation and Minister of Justice has issued a query to the Central Bank of Nigeria (CBN) over issues relating to the sale of foreign exchange.
While it is perfectly normal for any agency of Government to seek clarifications on any matter from other agencies of Government, we wish to state that neither the Governor of the CBN nor the Director, Legal Services Department has received any communication with regard to the issue.
The CBN, as a responsible and responsive arm of Government, will always provide clarifications on any matter within its purview for the purpose of educating and enlightening all concerned.
Accordingly, we wish to reiterate our position by making the following clarifications:
Consequently, to prevent any such occurrence in the future, the CBN has directed ALL Deposit Money Banks to render their returns in a uniform format converting all forex sales and purchases to NGN/USD. All third currency transactions are also to be converted to NGN/USD.
Again, we urge all concerned stakeholders to always verify information on matters relating to the Bank before going public in order not to trigger volatility in the market.
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8. Bid/Ask spreads stable at interbank FX as Naira holds value
9. Market Movements in 2016 - Forex Reserves Drops by 12.87%
10. Naira Holds Ground Against the Dollar at Interbank FX Market
11. Naira Enjoys More Stability as Speculation Wanes
12. FT - Lenders Plan Not To Renew Deals with CBN