Could the Nigerian Central Bank have included overseas school fees and medical tourism on CBN’s foreign exchange prohibitive list in its drive to reduce the demand for foreign exchange?
Boason Omofaye, the head of business news at Channels television, made this assertion Friday morning that overseas school fees and medical tourism have been placed on CBN’s foreign exchange prohibitive list.
By the truth of this directive, 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.
While the CBN's considerations for this development are not immediately known, it is suspected that it may not be unconnected to the weakening state of the Nigerian currency against the dollar on the parallel market.
(Godwin Emefiele, CBN Governor. right)
In a related development, experts from different sectors of the financial and economic market met Friday at a business colloquium to examine the imperatives at devaluing the naira.
Under the aegis of The Cable, an online tabloid, the gathering which met in Lagos debated “Naira On Trial: To devaluate or Not?” and was well-attended by business tycoons, professionals, analysts, among others.
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