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House Of Reps. To Probe Abuja Schools For Charging Fees In foreign currencies

This position held by the lawmakers is reportedly a follow-up to a motion by Rep. Emmanuel Agboola (Ekiti-PDP) and 14 others.

 

The House of Representatives yesterday resolved to probe an American International School in Abuja and other foreign institutions involved in collecting school fees in dollar.

The decision followed a motion by Emmanuel Agboola (Ekiti-PDP) and 14 other members, who condemned the practice. The lawmakers said it was exploitative to charge parents’ school fees and other levies in foreign currency.

Leading the debate on the motion, Agboola explained that the Central Bank of Nigeria (CBN) had, on April 17, 2015 issued a circular titled “Currency Substitution and Dollarisation of the Nigerian Economy” to reform the currency regulations.

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He said the circular was in pursuant to Sections 15, 20(1) and (5) of the CBN Act, which made it illegal to price or denominate the cost of any product or service in any foreign currency in the country other than the naira.

The lawmaker expressed concern that the American International School, Abuja (AISA) and several others were charging school fees in foreign currency, contrary to the law.

He added that the school charges fees and levies based on the parallel market and prevailing rates for the day. He said: “Depending on the rate at the black market, parents of children in the same class could pay different fees for their wards, which is a rip-off on Nigerians.”

When Deputy Speaker Yussuff Lasun put the motion to a vote and it was unanimously adopted in a voice vote. The motion was later referred to the House Committee on Basic Education for further legislative action.

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