CBN crashes dollar to N360 for tuition, BTA and medical bills

Central Bank of Nigeria (CBN) has directed banks to immediately begin the sale of foreign exchange to customers seeking to purchase the dollar for travelling allowance, basic travelling allowance, tuition and medication at a maximum of N360.

The apex bank, in a statement by its spokesman, Isaac Okoroafor, said it will sell the dollar to banks at N357.

CBN also directed the banks to, immediately, paste the new foreign exchange rate in the banking halls of their branches nationwide.

Banks, according to the apex bank, must not sell foreign exchange meant for the invisible to bureau de change

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