The Central Bank of Nigeria (CBN) has confirmed availability of adequate Forex for PTA, BTA, Tuition & Medical Fees.
The clarification was given following information that some customers seeking to buy forex for BTA, PTA, medical and school fees were being frustrated by some banks with the false claim that the CBN was not allocating enough forex to them for the purpose.
According to a statement from the CBN signed by the Ag Director , Corporate Communication, Isaac Okoroafor, “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-cooperating bank
Furthermore, no customer should accept to buy forex from any bank at more than the CURRENTLY prescribed rate of N360/$1”.