Minister of Solid Minerals Development, Dele Alake, has called on the Federal Government to take decisive action against schools in Nigeria that charge tuition fees in foreign currencies, describing the practice as “unpatriotic, illegal, and economically damaging.”
Speaking in Abuja on Thursday, Alake said it was unacceptable that some private schools and institutions operating within Nigeria’s borders continue to demand payment in dollars or other foreign currencies, despite existing laws mandating the use of the naira as the country’s only legal tender.
According to him, the trend not only undermines the national currency but also worsens economic inequality, as it puts quality education beyond the reach of average Nigerian families.
“It is outrageous that some schools in our country collect fees in dollars. This practice must stop,” Alake said. “The Federal Government should immediately clamp down on such institutions. No one should operate a school in Nigeria and be allowed to disregard the sovereignty of our currency.”
He noted that the Central Bank of Nigeria (CBN) had previously issued warnings against transactions conducted in foreign currencies within the domestic economy, stressing that offenders could face sanctions under the CBN Act and the Money Laundering (Prohibition) Act.
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Alake urged the Ministries of Education, Finance, and Justice to collaborate with the CBN and law enforcement agencies to identify and sanction defaulters, adding that such enforcement would restore confidence in the naira and promote fairness in the education sector.
“The naira must be respected and protected. If we allow this trend to continue, it will encourage further disregard for our economy and fuel inflation,” he said. “We cannot build a strong nation if our people lose faith in their own currency.”
The minister’s remarks have reignited public debate about the high cost of private education and the increasing dollarization of fees in some elite schools, particularly in Lagos, Abuja, and Port Harcourt.
Several parents and advocacy groups have echoed Alake’s concerns, urging the government to ensure that all financial transactions in the education sector comply with national laws.
Meanwhile, the Federal Ministry of Education has yet to issue an official response, but sources indicate that the government may soon issue a directive to schools to cease all fee collections in foreign currencies or face closure and possible prosecution.