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: What CBN Governor Godwin Emefiele Told Nigerian Senators About Naira Depreciation
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

What CBN Governor Godwin Emefiele Told Nigerian Senators About Naira Depreciation

Farouk Mohammed
By Farouk Mohammed
Published: January 20, 2016
Share
1 Min Read
SHARE

CBN1-1-1-1

CBN Governor, Godwin Emefiele, during his appearance before the senate recently, vowed not to go back to selling of foreign exchange to BDC operators in the country, Vanguard reports.

“We will not review the restriction on the BDCs, because we have seen that they are the ones waging a huge war against the Naira,” he reportedly said.

He said that the activities of operators of BDCs were mainly responsible for the dwindling value of the Naira as they embark on rent seeking speculation of the local currency.

- Advertisement -

He also told the senators that some 2,837 BDC operators were leading the speculations against the Naira in the parallel market, adding that since stoppage of allocations to BDCs, they have been sourcing their dollars from oil companies and other foreign exchange earners.

According to him, the Senators and Nigerians should not worry about the falling value of the Naira currently, adding that the currency would soon stabilize.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNNairaSenate
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 Chinko Ekun Reveals Why He Didn’t Participate In YBNL #OLIC Event & Other Matters.
Next Article How Dasuki Kicked Me Out of Jonathan’s Re-election Campaign – Doyin Okupe

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

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

Last updated: 21 hours ago (June 28, 2025 10:51 am)

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

USD/NGN Converter

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

Recent Posts

David Mark to Lead Anti-Tinubu Coalition Under African Democratic Congress Platform
Politics Top stories
FG to Plant 20 Billion Trees Next Rainy Season in National Reforestation Drive, Says VP Shettima
International News
Federal Government to Overhaul Civil Servants’ Healthcare Policy Amid Rising Concerns
News Top stories
Paul Pogba Joins AS Monaco on Free Transfer After Doping Ban
Sport
Aminu Alhassan Dantata
Dantata Family Confirms Burial Plans for Late Aminu Dantata
News
- Advertisement -
Ad imageAd image

You May Also Like

Goodluck Jonathan
News

Jonathan: “Every Day I Was Hearing About a Coup” During Yar’Adua Era

Muhammad A. Aliyu
Muhammad A. Aliyu
June 28, 2025
Frank Edoho
Celebrities

‘Maybe I’m Not Good at Marriage’ – Frank Edoho Opens Up About Second Divorce

Damilola A.
Damilola A.
June 28, 2025
Kayode Peters
News

Nigerian Filmmaker Kayode Peters ‘KP’ Dies After Prolonged Illness

Muhammad A. Aliyu
Muhammad A. Aliyu
June 28, 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?