CBN assures of adequate forex for PTA, BTA, others

  • Posted on: 1 April 2017
  • By: editor

The Central Bank of Nigeria (CBN) has assured of adequate forex for BTA, PTA, medical and school fees.

 The apex bank was reacting to reports that some customers seeking to buy forex for BTA, PTA, medical and school fees were being frustrated by some banks with the false claim that the CBN was not allocating enough forex to them for such purpose.

 CBN’s spokesman, Isaac Okoroafor, who doused the fear of customers, wondered why some banks were trying to rubbish government policy.

 His words: “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.”

 He therefore advised those seeking to buy forex for the above-mentioned purposes 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, 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,” he said.