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We haven’t received any query from AGF on forex – CBN

We haven’t received any query from AGF on forex – CBN
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The Central Bank of Nigeria on Thursday said it had yet to receive any query from the Office of the Attorney-General for the Federation over issues relating to the sale of foreign exchange.

The apex bank had been under pressure since the last few weeks over its policy on foreign exchange which some people have described as not being friendly to the business and investing communities.

But reacting to the development, the CBN in a statement issued by the Acting Director, Corporate Communications Department, Mr. Isaac Okoroafor, said that neither the Governor of the CBN, Mr. Godwin Emefiele, nor the Director, Legal Services Department has received any communication from the AGF office with regard to the issue.

The statement reads in part, “The attention of the Central Bank of Nigeria has been drawn to a media report suggesting that the Office of the Attorney General of the Federation and Minister of Justice has issued a query to the Central Bank of Nigeria over issues relating to the sale of foreign exchange.

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“While it is perfectly normal for any agency of government to seek clarifications on any matter from other agencies of government, we wish to state that neither the Governor of the CBN nor the Director, Legal Services Department has received any communication with regard to the issue.

“The CBN, as a responsible and responsive arm of Government, will always provide clarifications on any matter within its purview for the purpose of educating and enlightening all concerned.”

It said since the introduction of the new forex policy last year, the CBN had mandated all banks participating in the policy to forward evidence of forex sale to end users as well as advertise same in national dailies.

It said the decision to ask banks to publish their forex rate was to ensure transparency as the CBN neither allocates foreign exchange nor does it deal directly with bank customers.

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