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Presidency explains why pilgrims will get dollar at N197

06 August 2016, 09:51

Abuja - The Presidency on Friday gave explanation into the concessional rate of N197 to the dollar for the 2016 Hajj pilgrims.

The Central Bank of Nigeria (CBN) had subsidized the dollar for Muslims partaking in the 2016 Hajj, mandating that the dollar be sold at N197 for those who needed it.

The decision of the government was met with outrage with many believing it was a form of favouritism.

Also read: CBN authorises banks to sell dollars to Hajj pilgrims @ N197

But the Presidency has defended its decision.

Senior Special Adviser to President Muhammadu Buhari, Garba Shehu said the President had already approved the subsidy months before and prior to the new Forex regime

He also stressed that the subsidy was in no way discriminatory as the same subsidy was also extended to Christian pilgrims this year.

- News 24


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