Forex Allocation for School Fees, Medical Stays

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Godwin Emefiele

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THE Central Bank of Nigeria, CBN, has not stopped the allocation and sale of foreign exchange for purposes of paying school fees and settlement of medical bills overseas. A statement signed by Ibrahim Mua’azu, director, corporate communications of the CBN said on Friday, February 19.

Therefore, the bank has urged members of the public to disregard any contrary information in this regard.

Mu’azu’s statement said in part: “Despite assurances from the CBN, some persons have continued to suggest that the bank had stopped the allocation of foreign exchange to Nigerians seeking to pay school fees and medical bills overseas. The bank urges members of the public to discountenance such misinformation.

“All genuine users desiring to obtain foreign exchange for the above-mentioned purposes are hereby urged to freely approach their banks with their requests and appropriate documentation.”

— Feb 29, 2016 @ 01:00 GMT

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