Nigerian Students Lament FG Policy on Money Transfer

Mary  Nnah

Nigerian students in the Turkish Republic of Northern Cyprus have drawn the attention of the Federal Government (FG), to the Central Bank of Nigeria (CBN) Monetary policies that have denied them access and made it very difficult for them to pay their bills.

They lamented that the CBN policy on money transfer, and its directive among other issues confronting them have affected their academic progress as all transactions must go through the CBN and it has not been easy for them.

“The changes had affected the student’s ability to pay school fees and rent as well as pay for our daily expenses at the appropriate time. This often leaves us stranded, with avoidable penalties and is frustrating our academic progress and overall well-being. It equally hampers the ability to fulfill our financial obligations promptly, since we are denied access to the fund”, the group noted.

However, the Minister of Youths State of Africa Diaspora, (SOAD), Director of the Global NGO Executive Committee (GNEC), liaising for Global NGO to the UN and Executive Director, Light Up Foundation, Olasubomi Iginla-Aina expressed concern over the students’ plight.

While appealing to the government to resolve the matter and strengthen diplomatic ties with the Turkish Republic of Northern Cyprus, she assured that this will improve the welfare of the students, as more than 12,000 Nigerian youths enrolled at their university, as of January 2023.

Iginla-Aina expressed concern over the students’ plight after she visited the island where she discovered some of the issues faced by the students, were the form A money transfer policy by the CBN, whose cumbersome process has prevented them from accessing cash, was transferred from Nigeria, making their stranded. 

While explaining that the stress of academic work is already tedious and draining for them to cope with the traumatic experience of the CBN, she explained her mission to Northern Cyprus.

“Due to the many caps I wear which allow me to work with youths globally, I received calls, emails, text messages and social media space regarding an alleged maltreatment of Nigerian students in Northern Cyprus. These incidents caught my attention about three years ago but I couldn’t visit the Island due to covid -19 and other matters arising. I finally made it to TRNC in May 2023.”

Speaking further, Iginla-Aina said there was no perfect society anywhere in the world, adding, “The system obtainable here is to pay your tuition fee and other registration required. Once you don’t pay it becomes a challenge. Even students on government scholarships are not spared the agony because many students across the country have not remitted their tuition  fees, despite education agreement they have entered  with the school authorities.”