By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: We Did Not Ban Foreign Exchange for Education, Medical Tourism – CBN
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

We Did Not Ban Foreign Exchange for Education, Medical Tourism – CBN

Farouk Mohammed
By Farouk Mohammed
Published: February 13, 2016
Share
2 Min Read
SHARE

cbn111111-2-1-1-1-1-1-1-1-1

In response to recent wild rumors, the CBN has stated that education and medical tourism were not on the list of 41 items barred from accessing foreign exchange allocation in Nigeria.

It was earlier believed that the apex bank increased the list of items affected by the foreign exchange restriction policy from the initial 41 items to 43 with the inclusion of the two items.

Things got escalated after the Bankers Committee, after its meeting on Thursday, expressed worry over increasing pressures the demand for foreign exchange for school fees and medical treatments abroad have brought on allocation to the real sector and productive activities.

- Advertisement -

However Director, Corporate Communications Department of the CBN, Ibrahim Mua’zu, denied that the bank included education and medical tourism among the list of items restricted from accessing foreign exchange.

Mr. Mua’zu clarified that the Bankers’ Committee, during its meeting on Thursday, only decided to prioritize the allocation of foreign exchange to the importation of critical raw materials, plants and machinery for the real sector of the economy.

“What this means is that those sourcing for foreign exchange to pay for school fees of their children abroad and medical bills in foreign hospitals cannot get it from the Central Bank.

“Allocation of foreign exchange for such items is henceforth left at the discretion and ability of the banks. How that is done at whatever rate is not the CBN’s headache,” the CBN spokesman said.

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNEducationForeign ExchangeMedical Tourism
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article NollyWood Actress, Foluke Daramola Weds Husband Legally Today.
Next Article BREAKING: Hajiya Maitalle Tara, Woman Who Donated N1m to Buhari’s Campaign is Dead

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,550.00
Sell₦1,565.00
GBP
Buy₦1,760.00
Sell₦1,790.00
EUR
Buy₦2,135.00
Sell₦2,170.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Ezenwo Nyesom Wike
Wike Accuses Opposition Leaders of Self-Interest, Questions Their Commitment to Nigerians
Politics Top stories
Workers’ Unrest Looms as Nigeria Faces Economic and Security Crisis — NLC Issues Stark Warning
News
Rising Star Gonzalo Garcia Shares Top Scorer Spotlight at FIFA Club World Cup
Sport
Security Measures Heightened in Oyo State as Neo-Black Movement Prepares for Annual Founders’ Day
Security
Atiku Abubakar
Atiku Abubakar Pledges to Combat Electoral Fraud, Promises Socioeconomic Renewal Through ADC in 2027 Polls
Politics
- Advertisement -
Ad imageAd image

You May Also Like

InternationalTop stories

Nigeria and Brazil Forge Stronger Agricultural Ties to Boost Food Security

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 6, 2025
News

Anglican Bishop of Warri Raises Alarm Over Nigeria’s Spiraling Insecurity and Calls for Urgent Government Action

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 6, 2025
Politics

Nigeria’s 2027 Political Landscape: ADC Emerges as a Potent Challenger to APC Amid PDP’s Decline

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?