The Central Bank of Nigeria (CBN) has warned banks to desist from frustrating customers who want to purchase forex for the purposes of BTA, PTA, medical and school fees.
CBN Acting Director of Communication, Isaac Okorafor, in a statement on Friday evening, said the banks have enough forex to meet the demands of their customers.
Customers have therefore, being advised to call a dedicated telephone number to report any bank that refuses to sell forex at the official rate and within stipulated time.
Okorafor said, “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-cooperating bank.
“Furthermore, no customer should accept to buy forex from any bank
at more than the CURRENTLY prescribed rate of N360/$1.”
