The Central Bank of Nigeria (CBN) will soon increase the disbursement of forex to meet demands for payment of school fees for Nigerian students abroad, medical expenses, personal and business travel allowances.
According to Leadership the apex bank will henceforth give weekly allocations of $1million to Deposit Money Banks (DMB) in the country, while the banks would be expected to sell to their customers at the rate of N375 per dollar.
The National Economic Council (NEC) had on Thursday, February 16, urged the CBN to immediately review the exchange policy.