CBN
The Central Bank of Nigeria has refuted claims that it has plans to submit a bill to the legislature requesting Bereau De Exchange operators/dollar hoarders be jailed for as long as two years or pay a fine of 20 per cent of the amount.
This was revealed Tuesday by the CBN Governor, Godwin Emefiele at the CBN monetary policy bi-monthly briefing.
While acknowledging the statutory role of the Nigerian Law Reform Commission, Emefiele however noted that the CBN was yet to receive any formal notification for its input on such recommendations.
Recall that the Nigerian Law Reform Commission had call for a review of the Nigerian Foreign Exchange Act to make people who have in their possession for more than 30 days foreign currencies to go to jail for up to two years or pay a fine of 20 per cent of the amount.
