By Modupe Gbadeyanka
Contrary to what is being reported in some quarters, the Central Bank of Nigeria (CBN) has said it does not allocate Dollars unilaterally.
The apex bank made this clarification in a statement issued by its Acting Director, Corporate Communications, Mr Isaac Okoroafor, on Saturday in Abuja.
The CBN explained that it had set up an inter-bank foreign exchange market where anyone who wishes to buy foreign exchange could bid for and buy through their banks.
“It is not true that CBN allocates Dollars, there is nowhere in the world that the Central Bank sits by and allows vicious speculators to solely distort the value of its currency endlessly,” the statement said.
”All central banks intervene to buy or sell in the market to ensure that the local currency is protected from dubious attacks,” the CBN added.
The CBN decried the way some Nigerians chose to disparage those in leadership at this time in total insensitivity to the larger interests of the Nation’s economy.
The statement said the channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians were open.
more recommended stories
CBN Sustains Pressure on System Liquidity with N25b OMO Sale
By Dipo Olowookere The Central Bank.
Asian Stocks Fall Broadly as Investors Await Fed Rate Outcome
By Investors Hub Asian stocks fell.
European Equities Close Mixed as Traders Observe Brexit Developments
By Investors Hub European stocks are.
US Stocks Open Higher on Bargain Hunting
By Investors Hub The major U.S..