Reps To Probe Sale of $1b Foreign Exchange

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Reps probe sale of $1b foreign exchange 
photo credit: online
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CBN dissociate's self says: we’re not aware of NNPC/IOCs forex sale deal

The House of Representatives Ad hoc Committee on the Reduction of Petrol Prices has summoned Central Bank of Nigeria (CBN) Governor Godwin Emefiele, over alleged irregularities in the sale of $1billion foreign exchange (forex) last year.


The CBN chief is also to explain how International Oil Companies (IOCs) got the powers to act as finance houses that sell forex to major oil importers as well as to the CBN.

The committee, headed by Hon. Nnanna Igbokwe, is probing the sale of $1billion in June, last year by the apex bank, because in the preceding months, it sold far below such figure and thereafter ceded sale of forex to IOCs.

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