Nigerian President, Buhari says the Federal government will no longer make provisions of foreign exchange allocation for Nigerians schooling abroad or those seeking medical treatment overseas.
This position is contrary to that of the CBN which had stated in a communique last month that it had not banned the allocation of foreign exchange for education and medical bills.
“The Central Bank of Nigeria (CBN) wishes to clarify to the general public that it has NOT stopped the allocation and sale of foreign exchange for purposes of paying school fees and settlement of medical bills overseas,” Ibrahim Mu’azu, the apex bank’s Director of Corporate Communications, said.However in a recent interview with AlJazeera, Buhari overruled the CBN, insisting that it will henceforth, not be making such provisions as Nigeria's present economic state can't afford it.
