The Governor of the Central Bank of Nigeria, Godwin Emefiele, has summoned an urgent meeting with the Managing Directors and CEO’s of Banks in the country on issues relating to the developments in the Nigerian financial industry.
A source from the apex bank who spoke with WESTERN POST said that there were a lot of pressure on the Governor within and outside the industry waiting for him to brief the nation on various issues like the persistent fall in foreign reserves, the dollar/naira problems, the state of the banks in the country, the dwindling drop in oil prices and also to discuss the way forward for the banking industry in 2016.
CBN had decided to stop selling dollars to Bureau De Change operators in the country because, according to the apex bank, the BDCs are not helping the economy.
The Governor said despite all they do to sanitise the illicit trading allegedly being perpetrated by the BDC’s, they keep on buying from the CBN at the official rate of between N198/N199 to a dollar and selling to their clients at a higher rate of between #250/#260 to a dollar.
The falling value of the naira had made the Senate to send an invitation to the CBN Governor to appear before it on Monday to come and explain to the lawmakers how the industry is fearing and the way forward for the naira.
Emefiele’s meeting with the bank CEOs is expected to hold at an exclusive hotel in Lagos by 4 pm according to a source who spoke with WESTERN POST early on Friday.