Forex restrictions not impeding FDIs, Emefiele insists

According to him, the IMF position that restriction of forex on items that could be produced locally, was affecting FDIs “is false.”

“If you are a foreign direct investor, that is interested in doing business in Nigeria, I will say instead of you facilitating the import of these items into Nigeria, we want you to come and produce it in Nigeria.

“Nigeria is a market of over 200 million people, so bring your investment plans and equipment, come and produce those items in Nigeria, you will make your profit and take your dividend out of the country. So, I disagree with the IMF position.”