The Central Bank of Nigeria has debunked claims by some banks that they are being allocated with enough foreign exchange for travel and medical allowances.
The regulator Information says that is not true, while enjoining customers to report to it any banks that frustrate their applications for forex for the BTA< PTA, medical and school fees.
A statement by by the acting Director Corporate Communications of the CBN, Mr Isaac Okoroafor, said that the apex bank supplies enough forex to the banks to address those basic needs.
The CBN also urged customers not acced to any forex exchanhe in excess of N30/ dollar for those stipulated allowances.
The statement reads,
“Information reaching the Central Bank of Nigeria (CBN)
reveals that some customers seeking to buy forex for BTA, PTA, medical and
school fees are being frustrated by some banks with the false claim
that the CBN is not allocating enough forex to them for BTA,
PTA, Tuition and Medical fees.
“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.
“Any customer who is not attended to within 24 hours for
BTA/PTA or 48 hours for tuition and medical fees should call
07002255226 or send an email to cpd@cbn.gov.ng with the name
and branch of the non-ooperating bank.
“Furthermore, no customer should accept to buy forex from any bank
at more than the CURRENTLY prescribed rate of N360/
$1.”
