This was part of the decisions taken at the end of Bankers’ Committee meeting held at the headquarters of the apex bank in Abuja.
Speaking to news men after the meeting, CBN Acting Director Corporate Communication, Mr Isaac Okoroafor emphasised that this is not a policy reversal. He maintained that the decision was taking to ensure parents are able to cater for their wards schooling abroad.
He noted that schools abroad are resuming now and it could be difficult for some of the parents to pay for the school fees or buy PTA/BTA.
The apex bank also sounded a.note of warning to any of the operators who attempt to circumvent the process.
Meanwhile, following the announcement, the naira appreciated against the dollars marginally to sell officially at N313.65 to a dollar and N394 at the parallel market.