The Central Bank of Nigeria (CBN) is set to implement stringent measures concerning the purchase of foreign currencies through Bureau De Change (BDC) operators, particularly focusing on transactions related to overseas education and medical expenses.

Under the proposed revised regulatory guidelines for BDCs in Nigeria, the CBN plans to enforce a cap on foreign currency purchases for school fees at $10,000 per customer annually...

https://ratecaptain.com/cbn-proposes-10000-year-limit-on-foreign-school-fees-via-bdcs/

The elites can't shoot themselves in the foot. They made provision for themselves to go out and be educated.

$10k dollars can’t even pay a semester’s tuition in most schools in the US.

HitRun:
$10k dollars can’t even pay a semester’s tuition in most schools in the US.

We cannot even afford to be depriving our own educational institutions of funds that we need to remain in Nigeria and grow our economy and education infrastructure.

Imagine $10,000 not being enough for US and UK tuition fees for a session, yet ordinary $1000 we do not even pay for tuition in Nigerian public schools.

Place an embargo on forex for education for 10yrs and charge properly for Nigerian education and, pay the lecturers well.

10yrs, we will turn the tide on our steady decline.

Anyone who wants to school abroad should go find work abroad and pay from that income.

Nigerian funds should stop subsiding education and providing infrastructure for UK, Canada and US.

StOla:


We cannot even afford to be depriving our own educational institutions of funds that we need to remain in Nigeria and grow our economy and education infrastructure.

Imagine $10,000 not being enough for US and UK tuition fees for a session, yet ordinary $1000 we do not even pay for tuition in Nigerian public schools.

Place an embargo on forex for education for 10yrs and charge properly for Nigerian education and, pay the lecturers well.

10yrs, we will turn the tide on our steady decline.

Anyone who wants to school abroad should go find work abroad and pay from that income.

Nigerian funds should stop subsiding education and providing infrastructure for UK, Canada and US.

Story.

I thought your god studied in Chicago according to you guys?

So suddenly, you want him to place embargo on what he enjoyed?

FYI, the CBN gov. Kids are all abroad. Tell him to bring his family home to help the naira.

Let me hear from our president Obi first, whether this policy will be better for the country

StOla:


We cannot even afford to be depriving our own educational institutions of funds that we need to remain in Nigeria and grow our economy and education infrastructure.

Imagine $10,000 not being enough for US and UK tuition fees for a session, yet ordinary $1000 we do not even pay for tuition in Nigerian public schools.

Place an embargo on forex for education for 10yrs and charge properly for Nigerian education and, pay the lecturers well.

10yrs, we will turn the tide on our steady decline.

Anyone who wants to school abroad should go find work abroad and pay from that income.

Nigerian funds should stop subsiding education and providing infrastructure for UK, Canada and US.

I find your last statement about Nigerian funds subsidizing education in the US, Canada, and UK funny. Let me just leave it at that.

Even in the 70s and 80s when our tertiary education was still good, people were going to school abroad. Infact, at that time, most people were going on government funds unlike now where most people are going on private funds. If there is forex shortage, don’t blame the people needing forex to live their life, blame the people mismanaging the economy.