CBN blames naira’s woes on $39.6bn spent on foreign education, medical tourism in 10 years

The Central Bank of Nigeria (CBN) has blamed the freefall of the naira on the huge sum of $39.6bn spent by Nigerians on foreign education and medical tourism in 10 years spanning 2010 to 2020.

Giving a breakdown, the apex bank disclosed that the sum of $28.6bn was spent on foreign education while foreign medical trips gulped another $11bn within the review period.

The governor of the apex bank, Olayemi Cardoso made this known on Tuesday during a presentation before the House of Representatives.

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