Despite a severe shortage of foreign exchange (forex), overseas education continues to drain the country’s resources, as Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, admitted $80 million weekly disbursements for personal travel allowances or payment of overseas school fees. The amount, which translates to $960 million yearly, is disbursed to banks to enable Nigerians to meet their forex responsibilities. This is after a recent report indicated that Nigerians spend £30 million (about N20 billion) yearly paying tuition in the United Kingdom alone while the country’s education system grapples with challenges of underfunding, poor remuneration, and obsolete teaching facilities.
While threatening to block mobile lines of defaulters, the Nigerian government is seeking all avenues to ensure citizens register for their National Identity Numbers before the new deadline date. GuardianTV spoke with some subscribers and their experience regarding the exercise.
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