There’s Adequate Forex for PTA, Tuition Fee – CBN

• There’s Adequate Forex for PTA, Tuition Fee

The Central Bank of Nigeria has said there is adequate amount of foreign exchange to meet the needs of bank customers seeking to purchase dollars for purpose of Personal Travel Allowance, Business Travel Allowance, and payment of school and medical fees.

In a statement on Friday, the CBN debunked claims by some commercial banks that the apex bank was not allocating enough forex to them for the BTA, PTA, and payment of tuition and medical fees.

It read in part, “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.

The statement by the Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, further said, “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.