The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed plans by the bank to stop foreign exchange support for the importation of some commodities such as rice, if the pressure on the naira does not recede.
Speaking during a meeting with stakeholders in the organized private sector in Lagos yesterday, Emefiele stressed the need for local production of most of the commodities that are presently imported into the country, so as to strengthen the naira and develop the country.
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