The Central Bank of Nigeria has issued a warning against the usage of foreign currency as a medium of exchange in the country.
This is after some Nigerian businesses have resorted to using foreign currencies like the US dollar for goods and services as the Naira depreciates
The CBN Act of 2007 stated that the Naira notes issued by the banks shall be the legal tender in the country, and anybody who contravenes this provision shall be liable to a fine or 6 months imprisonment.
Source: Mybrytfmonline.com
