CBN Orders Banks, Authorised Forex Dealers to Sell Dollars to Hajj Pilgrims at N197/Dollar

The Central Bank of Nigeria, CBN, on Thursday, directed
banks and authorised forex dealers to sell the Pilgrims
Travelling Allowance, PTA, to intending pilgrims at a
concessionary exchange rate of N197 to $1.
In a circular on Thursday, marked, TED/FEMFPC/
GEN/01/005, the CBN said: “Each pilgrim is entitled to
purchase a minimum of $750.00 and maximum of US
$1,000.00 as PTA. The Federal Government has approved
that intending pilgrims are to be sold the PTA at a
concessionary exchange rate of N197.00 to the US dollar.
“No commission shall be charged by the banks for the sale
of the PTA to the intending pilgrims. The Central Bank of
Nigeria shall sale the PTA to the designated banks in
Lagos and Abuja and the accounts of the respective banks
shall be debited as soon as the funds are disbursed….”

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