Forex complains: CBN releases telephone line

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 cpd@cbn.gov.ng.
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 cpd@cbn.gov.ng,’’
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.