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Breaking: CBN Places Ban On Dollars For Overseas Fees And Medicals, Naira Falls Immediately To 325 USD & 450 On GBP
The Central Bank of Nigeria has placed Overseas School fees and Medical Tourism on its Foreign Exchange Prohibitive list.
Nigerians who intend to travel abroad for studies will thus have to source Foreign Currency from the from the parallel market.
BREAKING: @cenbank places overseas schools fees and medicals on FX prohibition list, Naira falls immediately to 325 on #USD and 450 on #GBP
— Boason Omofaye (@BBoason) February 12, 2016
The Naira has reportedly being impacted by the decision of the Central Bank of Nigeria as the Naira falls immediately to N325 to 1 US Dollar and N450 to 1 GBP.
The apex bank may have directed financial institutions to immediately begin publishing Returns on Utilization of Foreign Currency purchased from the Central Bank as several newspapers were seen showing the details of FOREX transaction from various Nigerian Banks.
President Buhari remains headstrong in his resolve to resist Naira devaluation despite calls by leading economists within and outside the country.
Prepaid Cards In Nigeria
2016/02/12 at 11:09 pm
It will be a good thing if the Federal Government can find a solution to this FX problem. Many businesses are suffering and many will still suffer if the exchange rate of Naira to US Dollar keep rising.
Uchichi Alphonsus
2016/02/15 at 5:10 pm
Nigeria need experts on their offices and field of their studies…
1…Political candidates must study POLITICAL SCIENCE.
2…Banking personnel must study BANKING and FINANCING.
3…ZOOLOGIST must work at the ZOOS or Animal management industry.
4…All these groups will have one monitoring body as a CENTRAL AGENTS but MUST NOT BE CORRUPT LIKE OTHERS.
5…Nigeria political members MUST PRACTICE”RULE OF LAWS”
6…Our government MUST ENCOURAGE the CHECKS AND BALANCES in the management of the THREE “ARMS OF GOVERNMENT”
7…POLITICIANS are the main problem of Nigeria, NOT BOKO HARAM.
POLICE AND POLICING is another group of people that always put NIGERIA AND NIGERIANS in trouble on the daily basis via INTIMIDATION and BRUTALITY, UNLAWFUL AND ILLEGAL ARREST OF INNOCENT CITIZENS.
N:B. Please edit and publish , tell them that I said.
Peter Mbonu
2016/02/23 at 2:01 am
Twin Global Group is Broker/Trading representing a major China Bank that has several billion dollars to help facilitate development around the world. The company is interested in PPP(public private partnership) deals in the areas of construction,real estate, parks & recreation, energy,resorts,tourism,etc.
Twin global group has secured major distribution in the environmental sensitive Chemicals products manufacturer for the oil/gas pipelies, waste-water treatment,etc.
Jonas Muninger
2016/03/13 at 2:23 am
According to Boason Omofaye, the head of business news at Channels television, who made this assertion this morning, overseas school fees and medical tourism have been placed on CBN’s foreign exchange prohibitive list.