The Central Bank of Nigeria has threatened to go after schools and
landlords in Nigeria that demand fees and rents in dollars. Rising from
its Monetary Policy Committee meeting in Abuja yesterday March 24th, the
CBN maintained that the only currency officially recognized for
business in Nigeria is the Naira.
“The official currency for doing business in Nigeria remains the Naira.
Collecting rents or school fees in dollars in Nigeria is illegal. We
like to advice those involved in these practices to desist from them,
because CBN would very soon begin to go after them,” Mr. Emefiele
warned.
He said steps must be taken to prevent the dollar dominating Nigeria's economy. I agree!
