{"id":103924,"date":"2023-12-12T21:44:27","date_gmt":"2023-12-12T20:44:27","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister"},"modified":"2023-12-13T00:30:58","modified_gmt":"2023-12-12T23:30:58","slug":"govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister","title":{"rendered":"Govt targets dollars in Nigerians\u2019 hands to address FX shortage \u2013 Minister"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Minister of Finance, Olawale Edun, has disclosed that the federal government is targeting foreign exchange outside the banking sector to address the liquidity crisis in the FX market.<\/p>\n

Edun stated this on Tuesday while appearing before the House of Representatives Committee on Finance.<\/p>\n

He stated that the forex in the hands of Nigerians represents the new \u201cforeign reserve\u201d of the country, adding that the liquidity in the hands of Nigerians runs into billions of dollars.<\/p>\n

\u201cForeign exchange held by Nigerians in cash outside the banking system is in the billions,\u201d he said.<\/p>\n

The minister disclosed that President Bola Tinubu\u2019s executive order will help to \u201cfacilitate\u201d this money into the \u201cbanking sector.\u201d<\/p>\n

\u201cMr President has authorised an executive order to facilitate the payment of that cash into the banking system,\u201d he said.<\/p>\n

Edun also agreed with lawmakers that the tax waiver is costing the country trillions of naira annually without any value.<\/p>\n

The deputy chairman of the committee, Saidu Abdulahi, said the country should experiment with scrapping the policy for a year and see what would happen.<\/p>\n

The minister agreed with the assertion by the lawmakers that the waiver policy is wasteful, noting that the government should consider tax rebates.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Minister of Finance, Olawale Edun, has disclosed that the federal government is targeting foreign exchange outside the banking sector to address the liquidity crisis in the FX market. Edun stated this on Tuesday while appearing before the House of Representatives Committee on Finance. He stated that the forex in the hands […]<\/p>\n","protected":false},"author":84,"featured_media":103922,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,2587,4977,254,1670],"class_list":["post-103924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-dollars","tag-fx","tag-nigeria","tag-nigerians"],"yoast_head":"\nGovt targets dollars in Nigerians\u2019 hands to address FX shortage \u2013 Minister - Nigeria<\/title>\n<meta name=\"description\" content=\"The Minister of Finance, Olawale Edun, has disclosed that the federal government is targeting foreign exchange outside t ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt targets dollars in Nigerians\u2019 hands to address FX shortage \u2013 Minister\" \/>\n<meta property=\"og:description\" content=\"The Minister of Finance, Olawale Edun, has disclosed that the federal government is targeting foreign exchange outside t ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-12T20:44:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-12T23:30:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1702407320.578588.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"435\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt targets dollars in Nigerians\u2019 hands to address FX shortage \u2013 Minister\",\"datePublished\":\"2023-12-12T20:44:27+00:00\",\"dateModified\":\"2023-12-12T23:30:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister\"},\"wordCount\":224,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1702407320.578588.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Dollars\",\"Fx\",\"Nigeria\",\"nigerians\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/govt-targets-dollars-in-nigerians-hands-to-address-fx-shortage-minister\",\"name\":\"Govt targets dollars in Nigerians\u2019 hands to address FX shortage \u2013 Minister - 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