The House of Representatives, on Tuesday resolved to probe secondary schools in Nigeria collecting fees in foreign currency.
The lower chamber held that the practice was in disregard to Federal Government policy and exploitation of parents.
The position of the lawmakers was as a result of a motion moved by Rep. Emmanuel Agboola (Ekiti-PDP) and 14 others.
Moving the motion, Agboola recalled that the Central Bank of Nigeria (CBN) had on April 17, 2015, issued a circular on “Currency Substitution and Dollarization of the Nigerian Economy” to reform the currency regulations.
The lawmaker expressed concern that the American International School, Abuja (AISA) was charging school fees in United States dollar.
He added that some other international schools in Nigeria were also collecting fees in foreign currencies, contrary to the government policy.
He explained that AISA disregarded the extant financial regulations even when it was inclined to collect the fees in Naira and could accept the currency only at parallel market rate.
According to the lawmaker, the use of the parallel market rate to determine the amount of fees to be collected in Naira means that parents pay school fees at different rates.
This depends on the rate in the black market and as such, parents of children in the same class end up paying different fees for their wards, depending on the day the payment was made.
Meanwhile, the motion was unanimously adopted by members through a voice vote.