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Tuesday 28 June 2016

Economic Crisis: Nigerian Students In UK Are Using Sugar Daddies To Pay For Tuition [Video]


Hundreds of Nigerian students in the UK have joined the bandwagons of students who signed up to a “Sugar Daddy” dating website within the past year in order to foot the cost of rising tuition fees,and lack of means to acquire foreign exchange due to government policy. it has been revealed.

Nigeria introduced foreign exchange controls in a bid to prop up its currency
These limits on foreign currency use have been expanded over the past year, and now include a ban on the use of Nigerian bank cards for payments or withdrawals overseas
Earlier this month, Nigerian President Muhammadu Buhari confirmed for the first time that the Central Bank of Nigeria would no longer allow foreign exchange transactions for payments for study abroad

This means that parents who need to acquire foreign funds to support their students abroad must now do so outside of official channels, at a much higher exchange rate, or via foreign currency accounts held abroad

The Nigerian government has added study abroad to a growing list of expenditures for which it will no longer provide foreign exchange from the Central Bank. This means that Nigerian parents can no longer purchase foreign currency through official bank channels in Nigeria in order to pay foreign school fees. In practice, it also means that parents who need to acquire foreign funds to support their students abroad must now do so in the open market, at a much higher exchange rate, or via foreign currency accounts held abroad.

However, many other Nigerian students studying abroad have been seeking transfer to Nigerian universities to complete their education at home because of the scarcity of foreign exchange and the present economic downturn

Some of the students indicated that, they would prefer to return to the country to Nigeria to complete their studies, instead of going through difficulties and long waits for forex that is no longer available to them at the appropriate time or dating sugar daddies to survive.

Many other Nigerian students have reportedly signed up to these "dating" website that enables them to meet people willing to fund their degrees and lifestyles whilst at university.
Nearly 2,000 women students in the UK are said to be registered on SeekingArrangement.com, which promises to match "sugar babies" with "sugar daddies". 
Seeking Arrangement boasts 3.6 million active members, with 2.6 million "sugar babies" to 1 million "sugar daddies and mommas".
According to the website, over a third of their total users are students.
A statement from Brandon Wade, founder of the service, reads: "Every successful relationship is an arrangement between two parties.
"In business, partners sign business agreements that outline their objectives and expectations. Likewise, romantic relationships can only work if two people agree on what they expect and receive from each other."
The site, matches wealthy individuals with impoverished “sugar babies” who are desperate to make ends meet at university.
SeekingArrangement.com claims to arrange “mutually beneficial relationships”between wealthy (usually male) individuals and students. On average, a university Sugar Baby will receive a monthly allowance of £5000 from her Sugar Daddy. Sugar Babies have reported feeling required to have sex with their Sugar Daddies, wanting to get this part of the arrangement “over and done with as quickly as possible.”
seekingarrangement


The entrepreneur told student website The Tab: "Love is a concept made up by poor people.
"At a time when graduates are guaranteed debt rather than a well-paying job, or even employment for that matter, Sugar Daddies are sought out for opportunity and not just financial stability."
He went on to claim that "sugaring" would improve the prospects of men and women using the service, perhaps even enabling them to find employment upon graduation.

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