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“CBN Is Worsening Nigeria’s Economy”- Yemi Alade Calls Out CBN Over US.Dollar Restrictions

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Nigerian songstress and vocal coach, Yemi Alade has called out The Central Bank of Nigeria over their new restrictions on Usd deposits.

In a series of tweets, Yemi Alade bitterly lamented how the changes made by CBN are affecting the poor and have made life unbearable for many.  She asserts the new restrictions have made it difficult for businesses in Nigeria to run smoothly as most of the products sold in Nigeria are imported from other countries.

According to Yemi Alade, CBN has diverted attention from its core values and has focused primarily on cash dollar deposits and money laundering.  She slammed their actions and asked them to do right by the people.

“CBN REALLY NEEDS TO CONSIDER THE ORDINARY MAN IN NIGERIA! All the new restrictions on Usd deposits is affecting a lot of businesses. You don’t have enough USD to even give legitimate business people for their imports, why not find another solution. Poor man is getting POORER

Can you please create a balance for us?CBN… While you have focused on truncating cash dollar deposits , the Cyclic nature of Money from rich to poor is making this country unbearable to live in.

Go to your local grocery store, whether na aboki shop or Supermarket and see that they CANNOT RESTOCK a lot of products once they run out. We don’t produce any of these finished products even toothpaste. Your focus is money launderers but you are In Turn worsening our economy Dear CBN

So much Bureaucracy in action and no one consciously trying to apply it to our reality! How long will your restriction on USD go on for? CBN DO BETTER!
It’s bad enough that you charge 50 naira per naira transaction and almost 3k monthly for account maintenance”

 


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