Barbara Bako, Abuja.
The Central Bank of Nigeria (CBN) on Monday denied the allegations that faceless agents pocket over N32bn annually in profit from the foreign exchange market with the aid of CBN officials. The Apex bank in a statement by its Director, Corporate Communications, Isaac Okoroafor, unequivocally described the report as unfounded and untrue.
He said the management of the CBN wishes to react to the report wherein a national daily alleges that faceless agents in Nigeria are exploiting the country’s multiple exchange rates to devastating effects and allegedly with the backing of regulators. He also challenges the newspaper to provide the names and also verifiable evidence of collusion between these faceless agents and officials of the CBN, who are working to perpetuate these so called Fx racket schemes.
He said “We would also urge the management of the newspaper to contact the CBN prior to making such spurious allegations, as we were denied the benefit of responding to this article. “The CBN wishes to remind the newspaper, as most financial observers have noted, that the Fx rates across various markets governed and regulated by the CBN, have been converging, leaving no room for arbitrage opportunities in Nigeria’s Fx market. “For avoidance of doubt, the CBN will continue to act in the best interest of Nigeria and shall ensure it remains focused on its core mandate of sustaining the stability in the FX market.”
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