The Minister of Solid Minerals Development, Dr. Dele Alake, has called for the immediate closure of schools in Nigeria that charge tuition fees in foreign currencies, describing the practice as “unpatriotic and detrimental” to the nation’s economic stability.
Alake made the remarks on Wednesday in Abuja while addressing journalists on the need to strengthen Nigeria’s economic sovereignty and protect the naira from unnecessary pressure.
According to the minister, it is unacceptable for educational institutions operating within Nigeria’s borders to demand payment in dollars or other foreign currencies, adding that such practices not only violate the country’s financial regulations but also contribute to the weakening of the local currency.
“It is an act of economic sabotage for any school in Nigeria to charge tuition fees in foreign currency,” Alake said. “These schools should be shut down immediately. We cannot continue to allow such open disregard for our laws and monetary policies.”
He urged the Central Bank of Nigeria (CBN) and the Federal Ministry of Education to take decisive action against offending institutions, insisting that all transactions within the country must be conducted in naira.
“The naira is our legal tender, and we must defend it. No serious nation allows internal institutions to trade in another country’s currency,” Alake added.
The minister further emphasized that the practice of charging in foreign currencies places unnecessary financial burdens on parents and encourages capital flight, as many schools reportedly retain foreign accounts to receive payments.
He also urged Nigerians to demonstrate patriotism by rejecting such billing practices, noting that “preserving the value of the naira requires collective discipline and compliance with the law.”
Education analysts have long criticized the trend, particularly among elite private and international schools in major cities, which often list tuition and other fees in dollars or pounds.
Alake’s remarks come amid ongoing government efforts to stabilize the exchange rate and strengthen the naira through fiscal and monetary reforms introduced under President Bola Tinubu’s administration.
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