Central Bank of Nigeria CBN has stated that it has not barred end users of foreign exchange that need it for medicals and school fees abroad.
This was disclosed in a statement obtained from the CBN website weekend. The statement signed by the Director Corporate Communication, Ibrahim Mu’azu also acknowledged that 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.
According to him “CBN wishes to clarify to the general public that it has NOT stopped the allocation and sale of Foreign Exchange for purposes of paying school fees and settlement of medical bills overseas.”
“The Bank therefore urges members of the public to disregard any contrary information in respect thereof.”
Mu’zu also urged all genuine users desiring to obtain foreign exchange for the above-mentioned purposes to freely approach their banks with their requests and appropriate documentation.

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