The Central Bank of Nigeria (CBN) yesterday evening reassured that all legitimate requests for foreign currency for eligible transactions, normally referred to as “invisibles”, such as remittances for school fees, student maintenance allowances, BTA, PTA, medical and other eligible transactions, shall be fully met at the official/interbank exchange rate.

“Already all the legitimate demand for such transactions through recognised channels have so far been fully met by CBN,” the apex bank’s Director, Corporate Communications, Ibrahim Mu’azu, said.

“The CBN,” Mu’azu said in a statement issued in Abuja, “hereby directs all authorised dealers in foreign exchange in Nigeria to henceforth treat as top priority all legitimate demand for foreign exchange for eligible transactions.

“The CBN once again advises individuals that wish to source foreign currency for such eligible transactions to approach their banks with their legitimate demand as the CBN has made adequate provisions of foreign currency for all such legitimate and eligible purposes.

“Furthermore, holders of naira denominated debit and credit cards shall continue to have access to the use of their cards at ATM machines in any part of the world but subject to the annual limit of $US 50,000. ATM withdraws shall continue to be a maximum of $300 per day.

“The general public is hereby advised to channel any complaints arising from any authorised dealer’s refusal to process such legitimate demand to the Director, Consumer Protection Department, Central Bank of Nigeria, for necessary action.”

•Photo shows CBN Gov. Emefiele.

Update news