The African Centre for Justice and Human Right (ACJHR), by Nduka Edede Chinwendu, has hailed the introduction of the ‘Naira-for-Dollar’ policy by the Central Bank of Nigeria (CBN).
The policy, according to the apex bank, offers an incentive of N5 for every $1 of fund remitted to Nigeria through International Money Transfer Organisations in the bank’s new forex policy.
The statement reads: “Having assessed the economy and what this policy is capable to achieve within a short period, we dare say that this policy is a game changer as far as our economy is concerned.
“We are aware of the ability of the new policy on remittance inflow to revolutionize our economy, reduce cost and check round-tripping. We therefore urge Nigerians to embrace the policy and ensure its success.
“All other central banks in Africa are therefore urged to borrow a leaf from how Emefiele and his CBN team have been churning out laudable policies that have been turning around the nation’s economy, and by extension, the continent’s economy.”
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