Provide FOREX to foreign students, Reps tell CBN
The House of Representatives on Thursday asked the Central Bank of Nigeria to make a special provision for Nigerian students studying overseas to have access to foreign currencies at the official rates for the payment of their fees.
The House said this is necessary because parents and guardians of such students had been experiencing difficulties in accessing FOREX.
It suggested that the CBN could address the needs of the students by creating a desk office charged with the responsibility of collating data on Nigerian students studying abroad.
In a resolution in Abuja, it said the FOREX could be released to the students on a monthly basis to cater for their fees and other allowances.
Leading the debate, Sarkin-Adar stated, “The insufficiency of foreign currencies has made it difficult for Nigerians to freely conduct foreign transactions, especially the payment of school fees and medical bills, as well as exchange of foreign goods and services.”The resolution followed a motion moved by Mr. Musa Sarkin-Adar and 76 other lawmakers.
The House advised the CBN to appoint some commercial banks for the project and ensure that the list of the beneficiaries was made public periodically.
The House also passed a Constitution Amendment Bill for second reading on Thursday to make it mandatory for the President to attach portfolios to his ministerial nominees before sending them to the Senate for screening.
The bill seeks to put an end to the current situation, whereby ministerial nominees are screened by the Senate without knowing their portfolios.
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