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Yesterday, the Central Bank of Nigeria issued a circular instructing commercial banks to sell dollars to Pilgrims going to the Hajj at a concessionary rate of N197, and this has sparked serious outrage on social media.

According to Yukibox, the circular adds that the number of pilgrims attending this year is 65, 197. And each one of them can buy up to $1000.

This means the CBN would be selling about $65, 197, 000 to the pilgrims.

Yesterday, the official exchange rate closed at N315, and so the sale of this special rate to the travelers will cost tax payers a whopping N7,693, 246, 000.

This is not the first time the CBN would be making concessions for pilgrims, however, this is the highest disparity in recent history. Hence the online outrage as Nigerians demand an explanation from the CBN and the present administration.

See the reactions:

https://twitter.com/Temmyboo/status/761473003024707585

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