Nigeria’ s apex financial institution The Central Bank of Nigeria, on Thursday, directed Nigerian banks and authorised forex traders to sell the Pilgrims Travelling... Sell a Dolar at 197 to Hajj Pilgrims – Central Bank of Nigeria

Nigeria’ s apex financial institution The Central Bank of Nigeria, on Thursday, directed Nigerian banks and authorised forex traders 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.

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Sell a Dolar at 197 to Hajj Pilgrims - Central Bank of Nigeria

Sell a Dolar at 197 to Hajj Pilgrims – Central Bank of Nigeria

In a viral letter sent on Thursday, marked, TED/FEMFPC/GEN/01/005, the CBN instructed:

“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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