CBN to sustain dollar sales to banks

The Central Bank of Nigeria(CBN) has said it will continue to sell dollars to banks to enable them support non-oil exports.

CBN Governor Godwin Emefiele stated this on Saturday at end of the 13th Bankers’ Committee retreat in Lagos.

He spoke following earlier plan by apex bank to suspend dollars sales to banks by this year end.

Emefiele said banks will continue to get dollar allocations because they have shown good faith in supporting non-oil export businesses.

He said the dollar support to lenders is to enable them continue to support businesses that will promote non-oil exports and earn more dollars for the economy.

Emefiele also drew a N500 billion lending plan banks to support non-oil exporters to deepen dollar earnings for the economy.

According to him, the big banks will be mandated to lend more, as part of their support for businesses.

Credit: The Nation

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