ACJHR lauds CBN Naira-4-Dollar policy

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CBN Bars "Third Parties" From Purchasing Forex Routed Via Form M
CBN Bars “Third Parties” From Purchasing Forex Routed Via Form

The African Centre for Justice and Human Right (ACJHR) on Tuesday lauded the introduction of the “Naira-4-” policy by the Central Bank of Nigeria (CBN), saying that the centre received the news with joy as it would assist in checking round-tripping and grow the nation’s economy.

This was contained in a statement made available to newsmen in Abuja by its Executive Director, Nduka Edede Chinwendu.

The policy, according to the apex bank, offers an incentive of N5 for every $1 of fund remitted to Nigeria through International Money Transfer Organisations in the bank’s new forex policy. 

The centre hailed the CBN governor, Godwin Emefiele, and other members of the team policy which it stated would assist in the nation’s economic recovery.

According to it, “having assessed the economy and what this policy is capable to achieve within a short period, we dare say that this policy is a game-changer as far as our economy is concerned.

“We are aware of the ability of the new policy on remittance inflow to revolutionise our economy, reduce cost and check round-tripping

“We, therefore, urge Nigerians to embrace the policy and ensure its success”. 

ACJHR asked all other central banks in Africa to borrow a leaf from Emefiele and his CBN team whose laudable policies have turned around the nation’s economy.


Samuel Nelson
OduNews on Google News

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