• Emefiele links elites’ taste for foreign goods to forex scarcity

    Emefiele links elites’ taste for foreign goods to forex scarcity

    The Central Bank of Nigeria (CBN) has blamed the elite who preferred imported materials to local ones for the foreign exchange crisis and its immense contributions to the current nation’s economic woes.

    The apex bank, through its Governor, Godwin Emefiele, lamented that Nigerians spend nothing less than £2 billion on their children studying abroad at the detriment of the the country’s educational sector.

    Speaking at the National Institute for Policy and Strategy Studies (NIPSS), shortly after he delivered a lecture titled “Managing […]