CBN’s message to parallel market patronizers

TRACKING___Emefiele has warned domestic and foreign investors against patronising the unofficial market, saying it was helping to overheat that market.

Dollar sales have since resumed following a phased easing of the lockdown but foreign investor currency demand is yet to be met, analysts say.

Emefiele, has warned firms and individuals against patronizing the parallel market, popularly called the black market.

He warned them to stop using black markets for foreign currency exchange, adding that patronizing the parallel market is helping to overheat the foreign exchange market.

“I know some of you are involved, stop now. By going to the parallel market, you are helping to overheat that market. Not only that, you will lose money because you would have bought it at a price that is not realistic. I can tell you that you are going to lose money. But we have seen your account already. We are appealing to you, please stop and let’s do what is right, what is legal, so that Nigeria can continue to be a good place for you and to live in,” Emefiele appealed to businesses patronizing parallel market.