2016 Hajj: Sell dollars to pilgrims @ N197, CBN authorises banks

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.

Nigerian pilgrims leave the arrival hall of Mallam Aminu Kano International Airport shortly after their arrival from the muslim holy city of Madina recently. AFP PHOTO
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 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….”

Details later…

 

2016 Hajj: Sell dollars to pilgrims @ N197, CBN authorises banks on Vanguard News.

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