The Central Bank of Nigeria (CBN) has issued a press release directed at critics who it perceives are miss-informing Nigerians “with the intention of discrediting genuine efforts at managing the economy, thereby creating public distrust and panic within the financial system”.
The press release comes as an increase in media commentary (both social and traditional), public demonstrations and international criticisms have ratcheted up against the apex bank in recent weeks. There have also been growing calls from some sections of the public calling for Mr Emefiele’s removal citing what they perceive as policy failures. There have also been unconfirmed reports circulated claiming that forex are being sold at less than the CBN’s own official rates.
The CBN’s press release allege that “intelligence reports” at its disposal reveal the involvement of some “unpatriotic elements funding the push to have the CBN and the Federal Government reverse its FOREX policy, which is aimed at conserving foreign exchange, stimulating agriculture and manufacturing and also promoting exports”.
See press release below;