Nigerians spent $40 billion on education, healthcare abroad in 10 years – Cardoso

Nigerians spent over $40 billion to access education and healthcare abroad between 2010 and 2020, Central Bank Governor Oluyemi Cardoso said on Tuesday.

Mr Cardoso said the high number of Nigerians in foreign schools and medical tourism are two of the major factors putting pressure on the naira.

Speaking while appearing before the House of Representatives, the bank chief said the demand for dollars by these students and those travelling for medicals abroad is hurting the naira.

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