Business
Forex restrictions not impeding FDIs, Emefiele insists
The Governor of Central Bank of Nigeria Godwin Emefiele has disagreed with the International Monetary Fund (IMF) that foreign exchange restrictions place on some items in the official forex market was impeding the flow of foreign direct investments (FDIs) in the country.Emefiele, said this while briefing journalists at the IMF/World Bank Annual Meetings in Washington DC.
According to him, the IMF position that restriction of forex on items that could be produced locally, was affecting FDIs “is false.”
“If you are a foreign direct investor, that is interested in doing business in Nigeria, I will say instead of you facilitating the import of these items into Nigeria, we want you to come and produce it in Nigeria.
“Nigeria is a market of over 200 million people, so bring your investment plans and equipment, come and produce those items in Nigeria, you will make your profit and take your dividend out of the country. So, I disagree with the IMF position.”
-
Education5 days agoUniversity of Ibadan releases 2026/2027 post-UTME screening results
-
Football5 days agoUnpaid £185m Club World Cup fund sparks fresh FIFA controversy
-
Business7 days agoInformation Minister, VON DG to lead ARCON’s 2026 Advertising Industry Colloquium
-
Aviation6 days agoCanada issues 10 key tips to help immigration applicants avoid processing delays
-
Business1 week agoCooking gas dealers slash prices amid intensifying market competition
-
Business4 days agoBreaking: NNPCL reduces pump price of petrol as competition intensifies
-
Politics1 week agoKenneth Okonkwo questions INEC’s credibility, calls for reforms ahead of 2027 polls
-
Latest6 days agoFubara’s early push for political structure triggered rift – Wike