We have released adequate forex for tution fee – CBN

by Azeez Adeniyi

The Central Bank of Nigeria said it has released adequate amount of foreign exchange for the purpose of Personal Travel Allowance, Business Travel Allowance, and payment of school and medical fees.

In a statement by Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor on Friday, the apex bank debunked claims by some commercial banks that the apex bank was not allocating enough forex to them for the BTA, PTA, and payment of tuition and medical fees.

[Also Read: Inform us if any bank refuses to give you forex in 24 hours, CBN tells Nigerians]

It read in part, “This claim is totally untrue. All banks have more than enough stock of forex in their possession for the purpose of meeting genuine customers’ demand for BTA, PTA, tuition and medical fees. Indeed, on a weekly basis, the CBN has been selling at least $80m to banks for onward sale to their customers for these invisible items.

“Members of the public seeking to buy forex for the above-mentioned purposes are, therefore, advised to go to their banks and obtain their forex.”

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