Nnana stated that these domiciliary accounts is one of the reasons why US dollar has continued to increase against Nigeria Naira.
'About $20 billion idle in domiciliary accounts,' bank's deputy governor says
Joseph Nnana, deputy governor CBN indicated that about $20 billion lying idle in various domiciliary accounts.
He added that though some privileged Nigerians might be behind the continuous rise in dollar against Naira, but the CBN is embarking on an aggressive liquidity mop-up to enable the naira regain confidence.
“The CBN will embark on aggressive liquidity mop-up to enable the naira regain confidence. The CBN will not sit down and watch the consistent fall of the naira. After the passage of the 2016 budget, the naira will begin to bounce back.
ADVERTISEMENT
“Those who speculate on dollars will have their fingers burnt,” he said.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Group demands severe punishment for policeman who cut off pregnant wife's hand
Nigerians raise questions about Bobrisky’s lawyers as Cubana Chief Priest dodges trial
Man bags 3 yrs term for stealing phones from worshippers after making calls
ASUU declares indefinite strike in UniAbuja
First lady, Obasanjo, Gowon, other dignitaries to attend Yar’Adua conference
KADIRS seals 6 telecom masts, businesses over ₦5.8bn unpaid taxes
EFCC, Cubana Chief Priest to resolve naira abuse case out of court
Okoloba community calls for Army barracks in Okuama to curb communal clashes
Bag of rice is ₦80k - Cross River workers disappointed with Otu's ₦40k wage
ADVERTISEMENT