- The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has said the number of Nigerians seeking foreign education is to blame for the fall of the naira
- He said there has been be a tremendous increase in visa issuances to Nigerians by the UK in 2022 alone
- Emefiele stated that the move has immensely put pressure on Nigeria’s foreign reserves and the naira
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has blamed the number of Nigerian students seeking foreign education for the depletion of the foreign reserves.
Nairametrics reports say the official foreign exchange received from crude oil sales into Nigeria’s reserves has depleted steadily from over $3 billion monthly in 2014 to zero dollars in 2022, according to Emefiele.
