President Buhari orders CBN to halt foreign exchange for food

Nigeria’s President Muhammadu Buhari has told the central bank to stop providing foreign exchange for food imports, his spokesman said in a statement on Tuesday.

“The foreign reserve will be conserved and utilised strictly for diversification of the economy, and not for encouraging more dependence on foreign food import bills,” the statement said. A central bank spokesman did not immediately respond to phone calls and text messages seeking comment.  Reuters

Pix: Nigeria President, Muhammadu Buhari