Thursday, August 04, 2016

2016 Hajj: Sell Dollars To Pilgrims At N197 Rate, CBN Orders Banks |PoliFocus

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, Vanguard reports.


Hajj pilgrims 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 thatintending 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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