Forex shortage hurting national development – Emefiele

Governor of Central Bank of Nigeria (CBN) Godwin Emefiele has raised an alarm of shortage of foreign exchange having a negative impact on achievement of national development goals.

Speaking on Friday, December 9, at the ongoing Bankers’ Committee Retreat in Lagos, Emefiele said there's need to recognise the hindrances of high inflation and foreign exchange shortages on the achievement of Nigeria’s national development goals.

He added that the retreat was convened to focus on the development of the local manufacturing industry and non-oil sectors, more broadly, and particularly to enhance the sector’s capacity to generate foreign exchange inflows.