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Forex: CBN threatens banks, to create complaint desk

CBN Says it has enough forex •As MPC retains rate at 11.5 % MONEY MARKET The Central Bank of Nigeria (CBN) has assured members of the public that there was enough foreign exchange for them to meet their obligations. This comes against recent complaints from a cross section of the private sector, especially manufacturers, over difficulty in obtaining forex for importation of production inputs as well as repatriation of dividend by foreign investors and payment of school fees of Nigerians schooling abroad. Giving the assurance in Abuja at the end of the Monetary Policy Committee, MPC, meeting yesterday, the CBN Governor, Mr. Godwin Emefiele, disclosed that the nation’s foreign reserve rose to $36. 5billion as at the end of last month, from $34.5billion in the preceding month. He stated: “There is enough foreign exchange for people to meet their obligations.     If you have forex obligations, they will be met.  There is no need to panic or for everyone to rush to t...