N448/N450 (updated 20.3.17:noon)
buying/selling naira exchange rates per USD
Wednesday, 24 August 2016

The controversy trailing the subsidization of US dollar exchange rates for pilgrims heading to Hajj, Saudi Arabia by the Central Bank of Nigeria last month seems not to have died as a lawyer, Malcolm Omirhobo, has dragged the Federal Government  to court over the matter on Monday.

Omirhobo filed the case at a Lagos State Federal High Court while listing the Federal Government, Attorney-general of the Federation, Mr. Abubakar Malami(SAN), Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, Government of all states in Nigeria, the Nigerian Christian Pilgrim Commission and the National Hajj Commission as defendants to the case.

The charge read:
"That by virtue of Section 10 of the Constitution, the granting of concessionary exchange rate by the FG, AGF and the CBN Governor to Muslims going to hajj at Saudi Arabia in 2016 to enable them purchase their Pilgrim Travelling Allowance(PTA) at the rate of N197 to a dollar as against the prevailing market price of N318 to a dollar is preferential, illegal, unlawful, unconstitutional and a violation of the applicant and other Nigerians fundamental right to freedom of worship and against discrimination as provided for in Sections 38 and 42 of the Constitution."
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