CBN Governor Mr. Godwin Emefiele
CBN Governor Mr. Godwin Emefiele

Nigerians React To Godwin Emefiele’s Threat Over Buying Dollar With Naira

2 years ago
1 min read

Nigerians are criticising the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for his plan to go after persons selling naira to buy dollar amid scarcity of foreign currency.

Prime Business Africa had reported earlier on Wednesday that Emefiele said the central bank is a monster with injurious tool to clampdown on individuals purchasing the US currency with naira.

The apex bank boss said it is an illegal trade. He said this while addressing allegation that Nigerian politicians were buying dollars for their political ambition ahead of the 2023 election.

Recall that the CBN had tightened access to obtaining forex, limiting it to importation of essential goods, maintenance and upkeep for Nigerians studying abroad, as well as business and personal travel expenses.

Emefiele said the accounts of persons caught buying dollar with naira will be frozen and such person risk security agency crackdown.

His threat was not well received by Nigerians, who took to social media platform, Twitter, to condemn Emefiele for the decision.

What Nigerians are saying

Financial expert and author of “Let’s Talk About Your Money”, Kalu Aja, jokingly suggested a way around the threat, saying people should use the naira to buy cow, and sell the animal in dollar.

“”and for those taking money from banks to buy dollars. It is illegal to do so” he quoted Emefiele, then suggesting, “So take your cash from the bank, buy a cow or turkey , then exchange the cow or turkey for dollars. You can thank me later.”

Novelist, Davud Onyemaizu, wrote, “By the time Godwin Emefiele is done with CBN, our naira will almost be as valueless as the Zimbabwean dollars.

“Ever since he assumed that position, none of his monetary policies have spurred an uprising in the economy. Just restrictions and fancying himself the next President.”

Another Twitter user with the name, John Mars Auto said, “So if I want to travel to USA I should take my naira there and exchange. By the time Emefiele is done with the Naira, Zimbabwean dollar go dey laugh at Naira.”

Author, Kanma Samiel tweeted, “Emefiele should be arrested, one day. What has he not done?”, while Ikenna Nzimora said, “I have repeatedly said that Emefiele needs to be thrown into prison. I am saying it again.”

For Twitter user, IAmTheIroko, he opined, “This man Emefiele has cut trees, closed websites to fight the naira free fall and this is the latest foolishness he has come out to say.”

One Kassandra Ugochukwu wrote, “Emefiele threatening to jail all those buying Dollars with the Naira, in the meantime Abokis selling dollars along Broad Street Lagos are dancing ‘Buga’… Meffy don’t sleep,wake up!”


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