The Central Bank of Nigeria has vowed to arrest and prosecute Nigerians buying dollars with naira.
The CBN governor, Godwin Emefiele, stated this at the Monetary Policy Committee (MPC) meeting in Lagos on Tuesday, July 20.
He said, “For those taking money from banks to buy dollars, it is illegal to do so. If the security agencies hold you, you will know the implication of that.
“We will conduct investigations, and we will have proof, and you will not be able to conduct transactions in any Nigerian bank.
“We will place ‘post no debit’ on the defaulting customer’s account. It is a very injurious tool to stop you from conducting illegal flows, either domestic or foreign currency.”
