» CBN Releases Emergency Telephone Line On Foreign Exchange Complaints

The Central Bank of Nigeria (CBN) has released an emergency mobile phone line for customers denied access to foreign exchange by banks for medical bill and
school fees.

CBN also released email address for immediate complaint against any commercial bank that denies a customer access to foreign exchange.

The customers have been advised to either call 07002255226 or send an email to [email protected].
The provision is made particularly for customers buying foreign exchange for school fees and medical fees.

“Any customer who is not attended to within 24 hours for BTA/PTA or 48 hours for tuition and medical fees should call
07002255226 or send an email to [email protected],’’ CBN said.

The apex bank said the aggrieved customer should name the bank and branch of the non-cooperating bank.

“Furthermore, no customer should accept to buy forex from any bank at more than the currently prescribed rate of N360/$1” CBN
statement added.

CBN debunked claims by some banks that it was not selling enough foreign exchange to
them for BTA, PTA, tuition and medical fees.

CBN’s Acting Director, Corporate
Communications, Mr. Isaac Okorafor, advised customers to report any defaulting bank as necessary sanctions would be
invoked on erring banks.

He said that information reaching the apex bank show that some customers seeking to buy foreign exchange for BTA, PTA, medical
and school fees were being frustrated by some banks.

These banks, he said, give false claim that the CBN was not allocating enough foreign
exchange to them for such purposes.

“All banks have more than enough stock of forex in their possession for the purpose of meeting genuine customers’ demands for
BTA, PTA, tuition and medical fees.
“Indeed, on a weekly basis, the CBN has been selling at least $80 million to banks for onward sale to their customers for these
invisible items.

“Thus, members of the public seeking to buy forex for the above-mentioned purposes are therefore, advised to go to
their banks and obtain their forex,” he said.