The Central Bank of Nigeria (CBN) has describe claim that it did not allocate enough forex to some commercial banks for personal travel allowance (PTA), basic travel allowance (BTA),medical and school fees as false.
A statement by acting Director, Corporate Communications, CBN, Isaac Okorafor, on Friday reads: “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.”
The apex bank also provided phone number and an email address any customer who is not attended to within 24 hours for BTA/PTA or 48 hours for tuition and medical fees should get across to 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,” the statement concluded.
