The Central Bank of Nigeria (CBN) has said that it has not stopped the allocation and sale of Foreign Exchange for purposes of paying school fees and settlement of medical bills overseas.
The Bank in a statement posted on its website on Friday, therefore urged members of the public to disregard any contrary information in respect thereof.
“Despite assurances from the CBN, some persons have continued to suggest that the Bank had stopped the allocation of Foreign Exchange to Nigerians seeking to pay school fees and medical bills overseas. The Bank urges members of the public to discountenance such misinformation.
“All genuine users desiring to obtain foreign exchange for the above- mentioned purposes are hereby urged to freely approach their banks with their requests and appropriate documentation,” the apex bank said in a statement signed by its director of corporate communications, Ibrahim Mu’azu.
Meanwhile, the says it has received series of complaints from customers of Deposit Money Banks (DMBs) alleging excessive and in some cases illegal charges from their respective banks.
It stated that the Revised Guide to Bank Charges clearly specifies allowable charges for all banking services and the CBN does not in any way condone the fleecing of banking customers under any guise.
The apex bank emphasised that it was in the quest to provide a strong voice to banks’ customers and moderate the arbitrary charges that the CBN in 2012, established its Consumer Protection Department.
“For the avoidance of doubt, the CBN has investigated over 6000 complaints relating to unauthorized bank charges brought to its notice, following which banks have been compelled to refund the sum of over N6.2 billion to affected customers in 2015 alone.
“The CBN wishes to reiterate its resolve to continuously enforce the provision of the Revised Guide to Bank Charges and urges members of the public to report cases of infringement to enable it investigate and apply sanctions on any erring Deposit Money Bank (DMB).
“Bank Customers are reminded to always forward there complaints to: Director, Consumer Protection Department; email: cpd@cbn.gov.ng,” it said.
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