CBN bans importation of foreign currency
The Central Bank of Nigeria (CBN) has banned the importation of all foreign currencies except with approval. This was contained in a statement signed by CBN Director of Corporate Communications, Mr Ugo Okoroafor, on Tuesday in Abuja. She disclosed that the purchase and sale of the cash were not adequately documented by the BDCs.She said the CBN Governor, Malam Sanusi Lamido Sanusi, and his team decided to take immediate action to safeguard the naira and ensure its stability in the face of the aforementioned challenges. she also said that banks can only sell foreign exchange cash to BDCs subject to a maximum of 250,000 dollars per week per BDC.