Friday, February 12

CBN Adds Overseas School fees and Medical tourism on FOREX Prohibitive list

CBN Adds Overseas School fees and Medical tourism on FOREX Prohibitive list

Central Bank of Nigeria

The CBN has added overseas school fees and medical tourism on CBN’s foreign exchange prohibitive list. Nigerians who may need to go outside the country for education purpose or health care will have to get the foreign currency from the parallel market to carry out their engagements.

This reason for this new development could not be ascertained but it may not be unconnected to the weakening state of the Nigerian currency against the dollar on the parallel market.

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