
The rich they say, also cry, has been reflected with parents of pupils in the Lagos Preparatory school on Glover Road , Ikoyi , popularly known as LPS, where USD (dollars) or its equivalent in the black market has been demanded from parents for school fees for the last three terms, despite the ban by CBN that no school operating within the ambit of the Federal Republic of Nigeria, should charge any tuition fees in foreign currency, especially as 90% of their operating cost are in the local currency.
A few parents who spoke in anonymity , found this demand from the school outrageous considering that hard times had fallen on most parents in Nigeria. They were of the opinion that school fees by virtue of the Forex crisis had almost doubled , compared to what was obtainable from early last year. Parents are now expected to pay One million Naira a term considering the current exchange rate of 318.