
Central Bank of Nigeria
Currency Substitution and Dollarisation of the Nigerian Economy
- Author
- Central Bank of Nigeria
- Reference No.
- BSD/DIR/GEN/LAB/08/013
- Year
- 2015
- Pages
- 2 pages
The Central Bank of Nigeria reiterates that the Naira is Nigeria’s only legal tender and warns that pricing, denominating, offering, accepting, or settling domestic goods and services in foreign currency is illegal. Deposit money banks are advised not to collect foreign currencies for domestic transactions…