Emefiele threatens to “PND” politicians bank accounts used for illegal dollar electioneering

CBN Governor Godwin Emefiele has warned politicians looking to withdraw their naira in exchange for dollar speculations for election purposes insisting that it was illegal to do so.

Mr. Emefiele was responding to questions from journalists who pressed him on the likely impact of election spending on the value of the naira when compared to the dollars.

The Governor insisted that the apex bank was monitoring the situation and will continue to use its monetary policy (discretionary powers) tools to mop up excess liquidity in the system when it believes banks might be looking to facilitate election spending or speculate on forex.

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