The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Tueday expressed concerns over the partial dollarisation of the nation’s currency, vowing that the regulator would apply measures to regulate such developemnt .
While urging deposit money banks to desist from encouraging the anomaly, 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%.
Although Naira has continued to trade above N200 to the dollar, the recent measures taken by the apex bank brought staibility to the currency that decelerating at dizzying rates.
