{"id":234165,"date":"2022-12-10T05:22:54","date_gmt":"2022-12-10T04:22:54","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=234165"},"modified":"2022-12-10T05:22:54","modified_gmt":"2022-12-10T04:22:54","slug":"we-dont-have-enough-forex-says-emefiele","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/12\/10\/we-dont-have-enough-forex-says-emefiele\/","title":{"rendered":"We Don’t Have Enough Forex, Says Emefiele"},"content":{"rendered":"

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has bemoaned the shortage of foreign exchange in the country. <\/p>\n

To this end, the CBN chief has charged leaders of the Nigerian banking sector to come up with ways on how to tackle the lingering challenge.<\/p>\n

Emefiele<\/a> spoke at the 13th annual Bankers\u2019 Committee Retreat in Lagos on Friday. <\/p>\n

He underscores the urgent need to develop the non-oil sector, lamenting that foreign exchange receipt from crude oil sales has dried up from above $3 billion monthly in 2014 to an absolute zero dollars.<\/p>\n

\u201cThere is clear shortage of foreign exchange today. But yet as Bankers, we must meet the needs of our customers. Market is tight. And I know we don\u2019t have a choice; we will have to do something to ensure that this problem is solved.\u201d<\/p>\n

\u201cThat is the reason we decided that this retreat must focus on RT200 essentially. How do we begin to think about how to source foreign exchange for our customers\u2019 import needs without necessarily depending on revenue from crude, which like you all know has come to almost zero compared to almost about $3billion monthly that we\u2019re getting in 2014,\u201d he said<\/p>\n

Recognising the hindrances of high inflation and foreign exchange shortages on the achievement of national development goals, Emefiele said the 2022 Retreat with the theme \u201cIncreasing the Productive Base of the Nigerian Economy and Non-Oil Export Revenues,\u201d was convened to focus on the development of the local manufacturing industry and non-oil sectors, more broadly, and particularly to enhance the sector\u2019s capacity to generate foreign exchange inflows.<\/p>\n

He said the focus is even more germane considering the enormity of the global economic turbulence, as wave after wave of negative shocks continue to ravage many countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has bemoaned the shortage of foreign exchange in the country. To this end, the CBN chief has charged leaders of the Nigerian banking sector to come up with ways on how to tackle the lingering challenge. Emefiele spoke at the 13th annual Bankers\u2019 Committee Retreat […]<\/p>\n","protected":false},"author":39,"featured_media":228871,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[2676,18653,14565,3380],"class_list":["post-234165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-bankers","tag-emefiele","tag-forex","tag-inflation"],"yoast_head":"\nWe Don't Have Enough Forex, Says Emefiele<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/12\/10\/we-dont-have-enough-forex-says-emefiele\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We Don't Have Enough Forex, Says Emefiele\" \/>\n<meta property=\"og:description\" content=\"Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has bemoaned the shortage of foreign exchange in the country. 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