"Nigerian Students Seeking Foreign Education Is To Blame For The Perpetual Fall Of Naira" — CBN

Date: 27-11-2022 7:24 pm (2 months ago) | Author: Mister Jay Wonder
- at 27-11-2022 07:24 PM (2 months ago)
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Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) says the number of Nigerians seeking foreign education is to blame for the fall of the naira.

He said this at the 57th Annual Bankers Dinner, organised by the Chartered institute of Bankers Nigeria (CIBN), in Lagos.

The dinner had the theme, “Radical Responses to Abnormal Episodes: Time for Innovative decision-making” was appropriate and well timed. According to Emefiele, there was tremendous increase in visa issuances to Nigerians by the United Kingdom in 2022 alone.

The apex bank governor noted that the number of student visas given to Nigerians by the United Kingdom spiked from a yearly average of about 8,000 visas in 2020 to almost 66,000 in 2022, implying an eight-fold increase amounting to $2.5 billion yearly in study-related forex outflow to the UK alone.

He stated that the move had immensely put pressure on Nigeria’s foreign reserves and the Naira. According to him, due to this and the need to increase forex earnings, the CBN and the Bankers’ Committee started the RT200 scheme in February 2022.

He added that the steady increase in headline inflation from 15.60 per cent in January to 20.77 per cent in September was consistent with global trends.


Posted: at 27-11-2022 07:24 PM (2 months ago) | Addicted Hero
- gogoman at 27-11-2022 07:54 PM (2 months ago)
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UP Godwin Emefiele!!! I'm beginning to like him
Posted: at 27-11-2022 07:54 PM (2 months ago) | Grande Master
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- fineboy77 at 27-11-2022 08:06 PM (2 months ago)
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Excuses,APC=Twins

Posted: at 27-11-2022 08:06 PM (2 months ago) | Hero
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- ficull at 27-11-2022 08:11 PM (2 months ago)
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Blamed old naira notes, blamed AbokiFX, now, it’s the students studying abroad. Why don’t you fix the problems rather than apportioning blames. A government is elected to fix issues, if it fails, there’s no point remaining in power.
Posted: at 27-11-2022 08:11 PM (2 months ago) | Gistmaniac
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- kp45 at 27-11-2022 10:03 PM (2 months ago)
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This man is so confuse.
Posted: at 27-11-2022 10:03 PM (2 months ago) | Hero
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- titobenja at 27-11-2022 11:57 PM (2 months ago)
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I BEEN THINK SAY THIS MAN GET SENSE BEFORE.
Posted: at 27-11-2022 11:57 PM (2 months ago) | Gistmaniac
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- Boi2Man at 28-11-2022 02:11 AM (2 months ago)
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Who’s sending their children abroad to school? Nor be una and the politicians wey una dey serve? Why didn’t you people fix the educational system in Nigeria. Don’t blame any student you and the politicians you serve created the problems
Posted: at 28-11-2022 02:11 AM (2 months ago) | Gistmaniac
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