The Central Bank of Nigeria (CBN) has alerted the Deposit Money Banks (DMBs) that it would stop selling forex to them by the end of 2022.
The CBN Governor, Mr Godwin Emefiele, made this known in Abuja on Thursday at the end of the Bankers’ Committee meeting where he also introduced the RT200 Programme.
According to Emefiele, the time has come for the banks to source for forex by funding entrepreneurs with ideas.
Emefiele added that the CBN would support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves.
