Amaka Obiefuna.

The Central Bank of Nigeria (CBN) has directed all banks to immediately begin sale of  FOREX for  Business Travelling Allowance (BTA),  Personal Travelling Allowance (PTA), Tuition and Medical fees to customers at not more than N360 per dollar.

The Acting Director Corporate Communication Mr Isaac Okorafor in a statement said the CBN will sell to banks at 357 naira per dollar.

He said that the banks are to post the new rates in the banking halls of their branches immediately adding that the CBN will send examiners to banks to ensure the new rates are   being implemented.

He stressed that banks are prohibited from selling FX funds meant for invisibles to BDCs.