Foreign Investors are free to withdraw their funds-Nigeria’s Central Bank | AfriTV Online

The Central Bank of Nigeria (CBN) has assured foreign investors in the country of a full co-operation with regards to the withdrawal of their funds from the nations economy, despite a shortage of forex related revenue due to the dip in sales of crude o...

investors, central, bank, funds

May
11

Foreign Investors are free to withdraw their funds-Nigeria’s Central Bank

Published by: Tobillionaire
05/11/2020 10:27 AM -

The Central Bank of Nigeria (CBN) has assured foreign investors in the country of a full co-operation with regards to the withdrawal of their funds from the nations economy, despite a shortage of forex related revenue due to the dip in sales of crude oil globally. The Governor of the CBN, Godwin Emefiele in a statement said that the apex bank has policies in place that will ensure a smooth exit for those willing to repatriate their funds, but urged them to be patient with the process due to the bank’s policy of orderly exit of investments.

 

According to Godwin Emefiele, the Nation’s available foreign exchange would be channeled towards strategic importation or prioritized service obligations. He further went ahead to state that the CBN is collaborating with the Federal Ministry of Industry, Trade and Investment to galvanize the manufacturing sector in order to reset the nation's economy.

 

The CBN boss also said that the current Covid-19 pandemic has allowed Nigeria to reset its economic base, and that the revenue drop from crude has left Nigeria no choice but to seriously consider diversifying its economic fortunes.

 

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