By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Saraki Calls On CBN To End Forex Restrictions
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Saraki Calls On CBN To End Forex Restrictions

Farouk Mohammed
By Farouk Mohammed
Published: January 7, 2016
Share
3 Min Read
SHARE

bukola-saraki-1111111111211111111112111111-1

The Senate President, Dr Bukola Saraki has urged the Central Bank of Nigeria to review its Forex policy.

He made the disclosure on Wednesday while assuring Christine Lagarde, the managing director of the IMF, that the senate is expanding Nigeria’s tax base.

“After series of engagements with SME owners who are affected by the current CBN policy on Forex, the senate have advised CBN to review,” he said.

Speaking at a meeting with Lagarde, Saraki described the IMF’s visit  as “very auspicious as we begin to deliberate on the 2016 appropriation bill” in the face of failing oil prices.

“Here at home, the effect of the low oil prices on government revenue is challenging us to think out of the box in funding the repair of infrastructure, boosting employment, and securing our borders and people,” he said.

“These are no mean tasks and we welcome the support of our friends in this trying period.

“Our economic fundamentals remain robust and the economy is resilient to absorb the current oil price shock. The situation is bringing out the entrepreneurship in us.

“We have also set in motion activities towards reforming our oil and gas industry through legislative initiatives in order to meet international best practices.

“Engaging with our people the issues we strongly made here of FOREX – to do business. This is expected – what IMF can do to bridge the gap. CBN to advise open – allow Forex

“The purpose of our legislative agenda is to enable us focus our lawmaking in areas that will help create jobs, expand our infrastructure base and make our economy work for the benefit and happiness of the majority of our people.

“In collaboration with major stakeholders, the 8th Senate is presently signing a memorandum of understanding on ‘The Enhancing Nigerian Advocacy for Better Business Environment Project’, a national assembly business and investment roundtable initiative, with developmental organizations.”

Saraki assure the IMF that the national assembly is committed to working closely with the executive in addressing the challenges facing the Nigerian economy.

“Diversifying and Modernizing Our Economy: We will support the Executive with legislation where necessary to give confidence to investors.

“Blocking Revenue Leakages: We are assiduously working towards blocking identified legal loopholes on revenue leakages and expanding our tax base.

“Conducive Business Environment: We are giving priority to legislation aimed at providing a more conducive business environment in general and reducing the cost of doing business in Nigeria; and

“Ending Impunity and Reducing Corruption: The national assembly more than ever before, is working at improving its oversight systems to expose corruption wherever it may be, and providing better legal frameworks to entrench the rule of law and end impunity.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNForexSaraki
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article No Apology Over Shiites-soldiers Clash – Nigerian Army
Next Article Janet Jackson Debunks Cancer Rumours

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Olubunmi Tunji-Ojo
FG Hails Success of E-Visa System, Processes Over 14,000 Applications in Six Weeks
News
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations
International
Ali Bukar Dalori
Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation
Politics
- Advertisement -
Ad imageAd image

You May Also Like

MI Abaga
Celebrities

MI Abaga Expresses Regret Over Past Support for APC

Damilola A.
Damilola A.
June 30, 2025
Senator Natasha Akpoti-Uduaghan
NewsTop stories

JUST IN: Court Grants Senator Natasha Akpoti-Uduaghan Bail on Self-Recognition

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
News

Anambra State Orders Investigation After Viral Video Shows Possible Anti-Touting Squad Excesses

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?