We’ll Refund Pilgrims’ Surplus Due To Dollar Depreciation – NAHCON

The Chairman of the National Hajj Commission of Nigeria (NACON), Alhaji Jalal Ahmad Arabi, has announced the possibility of returning excess funds to pilgrims due to the depreciation of the US dollar.

In an interview with DCL Hausa, an online news site published by the commission, Arabi explained the commission’s stance on potential refunds resulting from fluctuations in the exchange rate.

“If, for example, the day we announced that the dollar was 1,000 naira, it turns out that the day you deposited your money, that day it drops to 900 naira, then there is an extra 100 naira. We should return this 100 naira to you. We’re not going to wait for it to continue to depreciate. What if it goes up again?” he rhetorically asked.

Assuring transparency, Alhaji Arabi said, “As long as I am in charge of the commission, we will not shortchange anyone. We will make sure we pay this surplus.”

However, he did not specify a timeline for the refund process to the intending pilgrims.

Currently, the naira is appreciating against the US dollar, with the black-market rate hovering between 1,000 naira or even less.