NAHCON to Consider Refunding Pilgrims Due to Dollar Depreciation

• NAHCON Chairman Jalal Ahmad Arabi indicated potential refunds to pilgrims due to the depreciation of the US dollar
• Arabi assured transparency, stating that any surplus funds would be reimbursed promptly to ensure fairness for all pilgrims

The Chairman of the National Hajj Commission of Nigeria (NAHCON), Alhaji Jalal Ahmad Arabi, has indicated the likelihood of returning surplus funds to pilgrims as a result of the depreciation of the US dollar.

In an interview with DCL Hausa, an online news platform operated by the commission, Arabi elaborated on the commission’s position regarding potential refunds due to fluctuations in the exchange rate.

Arabi explained, “If, for instance, the dollar rate was 1,000 naira on the day we announced it, which later dropped to 900 naira on the day you made your deposit, then there is an extra 100 naira. We should reimburse you for this surplus. We won’t wait for further depreciation. What if the rate increases again?”

Assuring transparency, Alhaji Arabi affirmed, “For as long as I lead the commission, we will not cheat anyone. We are committed to ensuring the payment of any surplus.”

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

Traditionally, the commission refunds excess funds after the conclusion of the hajj exercise.

Presently, the naira is strengthening against the US dollar, with the black-market rate hovering around 1,000 naira or even less.