Members of the Nigerian House of Representatives has expressed concern over the spate of International schools operating in Nigeria and charging schools fees in foreign currencies. The Federal lawmakers on Tuesday, during its plenary session decried the trend and therefore mandated its Standing Committee on Basic Education and Services to investigate the matter and report back to the chamber within 4 weeks.
The directive was contained in a motion moved by Hon. Emmanuel Kehinde Agboola and 16 other legislators, calling for an investigation into what they tagged ' exploitation of parents by the American International School, Abuja (AISA) and some other International Schools'. Hon. Agboola who sought the leave of the House to give insight into the matter informed that the AISA and a couple of other international schools operating in Nigeria are charging school fees in United States Dollars (USD) and other foreign currencies as opposed to the Central Bank of Nigeria (CBN) policy on the currency for various forms of Business transaction in the country.
He further explained that all efforts by the parents to make school authorities to base the payment in Naira has proved abortive. Adding that if the trend is urgently stemmed could encourage other business outfits to adopt same practice of denominating their goods and services in foreign currencies, thereby amounting to flouting the law of the land.
The House on Tuesday 14th March, 2017 also passed for third reading a Bill which seeks to repeal the consumer protection Act, 2004, and establish the Federal Competition and Consumer Protection Commission as well as the Competition and Consumer Protection Tribunal. One of the focal point of the Bill include to bolster the development and promotion of fair, efficient and competitive markets in the Nigerian economy. The general principles of the piece of legislation also seeks to facilitate access by all citizens to safe products while securing the rights of all consumers in the country.
Meanwhile, the Communication from President Muhammdu Buhari notifying the Speaker and members of the House of Representatives of his return from medical vacation and consequent resumption of duty was read on the floor of the chambers by the Deputy Speaker, Rt. Hon. Yusuf Lassun.