President Muhammadu Buhari has ruled out foreign exchange for Nigerian students abroad.
The president said that Nigeria could not afford to allocate foreign exchange for those who decided to train their children abroad.
President Buhari stated this in an interview he granted to Al Jazeera during his recent visit to Qatar.
The president, however, added that those who could afford to send their children to foreign schools could go ahead.
"Those who can afford foreign education for their children can go ahead, but Nigeria cannot afford to allocate foreign exchange for those who decided to train their children outside the country. We can’t just afford it. That is just the true situation," he said.
Buhari also said the federal government would pursue and punish those receiving dollars from the Central Bank of Nigeria (CBN) for importation and selling same for profit at parallel markets.
"Anybody who is given dollars by the Central Bank of Nigeria (CBN) to import pharmaceuticals and decided to go and sell at parallel market in order to make maybe additional N100, we will pursue them and punish them", the president stated.