"We Are Not Selling Dollar At N200 To Anybody" - CBN Replies Senate

The Central Bank of Nigeria has through its spokesperson on Friday dismissed claims by the Senate that it is selling dollars to some businesses at an unofficial rate of N200.

The Senate on Wednesday had asked the Federal Government to direct the CBN to supply dollars at N200 to intending pilgrims.

This followed a motion by the former governor of Kebbi State, Adamu Aliero, APC-Kebbi.

Aliero said;

“The committee strongly recommends the concession of N200 to $1 for 2017 Hajj, to bring down the cost to a bearable level,”

But the apex bank has denied selling to businesses at subsidized rates.

CBN spokesperson, Isaac Okorafor, said.

“It is not true,”  

“We (CBN) are NOT selling FOREX to anyone at N200 to the dollar. The lowest rate in the entire market is the inter-bank rate, which ranges between N305 to N315,”