CBN governor, Godwin Emefiele had on March 24, 2015, stated it was unlawful for landlords or college proprietors to demand rents or charges in {dollars}.

 

“The official forex for doing enterprise in Nigeria stays the Naira. Accumulating rents or college charges in {dollars} in Nigeria is against the law. We wish to advise these concerned in these practices to desist from them as a result of CBN would very quickly start to go after them,” Emefiele had warned.

The CBN governor, who additionally spoke on efforts to test the pressures on the Naira because of the pointless calls for for overseas trade, stated steps should be taken to forestall the greenback from dominating the nation’s economic system.

In a freedom of knowledge (FoI) request, the CBN was requested to offer the data of their prosecution inside seven days in accordance with the act.

The letter learn, “On March 24, 2015, the Governor of the Central Financial institution of Nigeria (CBN), Mr. Godwin Emefiele frowned on the rising apply of buying and selling items and companies in foreign exchange as an alternative of the Naira in Nigeria.

“Specifically, Mr. Emefiele, stated that ‘The official forex for doing enterprise in Nigeria stays the Naira. Accumulating rents or college charges in {dollars} in Nigeria is against the law. We wish to advise these concerned in these practices to desist from them as a result of CBN would very quickly start to go after them.’

“However for causes greatest recognized to the members of the Board of the CBN the devaluation of the Naira by way of dollarisation has been allowed to proceed unabated. The monetary disaster has been compounded by some politicians who’re concerned in shopping for up out there {dollars} out there to compromise occasion officers and delegates in addition to administrative and judicial officers.

“Thus, because of the prison conduct of such politicians and different curiosity teams concerned in accumulating {dollars} for items and companies within the nation the Naira is presently exchanging for over N600 to a greenback within the so-called black market.

“In view of the foregoing, we’re compelled to request for data on the measures adopted by the CBN to halt the rising apply of buying and selling items and companies in foreign exchange as an alternative of the Naira in Nigeria.

“As this request is made beneath the Freedom of Data Act, 2011 you might be required to furnish me with the requested data not later than 7 days upon the receipt of this letter.”