The CBN boss also vowed to prosecute point-of-sales (PoS) operators who collect exorbitant charges for transactions.
Emefiele reiterated the benefits of the naira redesign, arguing that it has helped in reducing inflation and is leading to a moderation in exchange rates.
He also told the members of the corps how the nation’s economy is faring but shared concerns about increasing inflation which he attributed to insecurity, elections spending, and the effect of the global market on the economy.
According to him, the nation’s growth rate is at 3.6 percent for 2023, noting that the economy will experience what he called subdued growth owing to the scarcity of petroleum products, increased spending which is being curtailed, and increasing debt levels.