Mr Emefiele, the governor of Central Bank of Nigeria (CBN) has warned Nigerians against buying Dollars with Naira. He vowed to prosecute any Nigerians caught buying Dollars with Naira.

The governor made the declaration on Tuesday, July 19 at the recent meeting of the Monetary Policy Committee (MPC) held in Lagos.

The apex bank governor warned Nigerians illegally exchanging naira for dollar to stop, adding that Central Bank of Nigeria would conduct investigations and place ‘post no debit’ on the defaulting customer’s account in Nigerian banks.

He warned:

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For those taking money from banks to buy dollars, it is illegal to do so. If the security agencies hold you, you will know the implication of that.

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He added:

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We will conduct investigations, and we will have proof, and you will not be able to conduct transactions in any Nigerian bank. We will place ‘post no debit’ on the defaulting customer’s account. It is a very injurious tool to stop you from conducting illegal flows, either domestic or foreign currency.

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