Investors in Nigeria are assured of the security of their investments and no hindrance in repatriating their funds despite the reduced revue due to fall in oil prices as a result of the COVID-19 pandemic
Godwin Emefiele, governor of the Central Bank Nigeria (CBN), said that measures are put in place to ensure an orderly transfer of funds. He pointed out that when a similar shortage of foreign exchange occurred in 2015, the CBN was able to settle all commitments in an orderly manner.
He said that the CBN is collaborating with the Ministry of Industry, Trade and Investment to galvanise the manufacturing sector in a bid to reset the economy, and that the foreign exchange available would be devoted to strategic importation or service obligations that are of priority.
During a meeting with the banks, manufacturers in the health sector and the larger manufacturing sector, he noted that the fiscal and monetary authorities need to work together to moderate the health and economic impact of COVID-19.
