Call us if your bank doesn't supply you with FOREX within 24 hours- CBN tells Nigerians

In a statement released on its website today, the Central Bank of Nigeria CBN, has asked Nigerians seeking to buy forex for BTA, PTA, medical and school fees but are being frustrated by any bank, to call this number 07002255226 to report such bank. 

 

According to the statement, some Bank customers have complained that since the apex bank issued a directive that banks should sell forex at N360/$1 to its customers (Read here), some of the banks have refused their request for FOREX, saying they do not have enough foreign exchange. CBN says this is a lie as the banks have been adequately supplied with forex. Read the statement below

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.