Importers of more items are to be denied access to foreign exchange from government institutions and banking industry, Central Bank of Nigeria Governor Godwin Emefiele, said on Monday.
The ruling by Justice Butcher bordered on a 2010 contract Nigeria signed with P&ID, to the intent that the latter would build a state-of-the-art gas processing plant to refine natural gas into “lean gas” that Nigeria would receive free of charge to power its national electric grid. “I will say that to be honest, we would aggressively go more into the list of items that are being imported into the country, items that can be produced in Nigeria.
“We need to improve wealth in our rural communities and I am saying we will not change course, we will even be more aggressive on this programme.” On the $9 billion judgement on debt, the apex bank chief said: “I am not scared at all and I think it is also important that this question has come up. Since the news about the judgement broke out late on Friday, we have been discussing with our counsels, and they have advised that there are sufficient and strong grounds on the basis of which we could file a stay of execution and also an appeal against that judgement.
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