- The call was made by the Senate on Thursday July 20, following the adoption of the report by its committee on foreign affairs
- Senator Adamu Aliero urged his colleagues to adopt the motion as he stated that the Nigerian Central Bank had been offering dollar at N200 to some unnamed businesses
- In response to Aliero’s claim, senate president Bukola Saraki stated that pilgrims also deserve to get the dollar at that same low rate
The Nigerian federal government has been asked by the upper legislative chamber to make the dollar available to Nigerians embarking on pilgrimage to Saudi Arabia or Israel at N200, as “a matter of urgency”, Premium Times reports.
This is lower than the rate approved in the Appropriations Act and the Medium Term Expenditure Framework.
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The Senate made the call following the adoption of the report by its committee on foreign affairs presented by senator Monsurat Sunmonu, on Thursday July 20.
The report read: “The Government should as a matter of urgency extend concession on the Naira – Dollar exchange to NAHCON and NCPC, once in every year, for the pilgrimages to the two Holy Lands.
“Therefore, the committee strongly recommends the concession of N200 to $1 for 2017 Hajj to bring down cost to the bearable level.”
While seeking the support of his colleagues to adopt the motion, senator Adamu Aliero stated that the Nigerian Central Bank had been offering dollar at N200 to some unnamed businesses.
In response to this, senate president Bukola Saraki stated: “You said CBN has been giving some businesses dollar at N200?
“If some businesses are getting that concession, pilgrims also deserve it.”
The US dollar currently exchanges for about N315 at the interbank level, and N365 in the black market.
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Meanwhile, NAIJ.com previously reported that Nigerians reacted to the directive by the Central Bank of Nigeria (CBN) asking banks to provide forex to those going on Hajj pilgrimage at N197 per dollar.
The Nigerian apex bank directed the banks and other ‘authentic’ foreign exchange dealers to sell the Pilgrims Travelling Allowance (PTA) to pilgrims at a concession.
In a circular passed, CBN, said: “Each pilgrim is entitled to purchase a minimum of $750.00 and maximum of US$1,000.00 as PTA.”
Watch this NAIJ.com TV video asking if N1 can ever equal $1 on the forex market