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….” Click to signup for FREE news updates, latest information and hottest gists everyday
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GOD WILL PUNISH YOU ALL
ReplyDeleteThis is so so sad. No forex do business that will improve the economy, yet we can provide forex at a highly discounted rate for people going on a pilgramage that is of no economic value. I just tire
ReplyDeleteIs this our priority? Not the list! Government of confusion! Stop starting a game that will not profit the Nigerian citizens in general. What concerns has government on this? Remember Christians as well beccause this are the. two appproved religion in Nigerian government
ReplyDeleteApart from PADDING, another loophole in Nigeria's economy is the involvement of government in religious matters especially pilgrimages.
ReplyDeleteGovernment must stop it because it is a way of STEALING, big time swindling. Whoever wants to travel to Mecca or Jerusalem should use his own money after all it's not a must we do sight seeing. #GodhelpNiaja
This is what this old useless man has turned Nigeria into... Muslims matters to the idiot more than the rest of the masses. This idiot has subjected the whole country with heavy hunger and at the same time killing hundreds of people on a daily basis with his Fulani brothers... God Almighty will uproot you very soon.
ReplyDeleteThis is terrible. Subsidising religious pilgrimages in today's world? Very, very shameful. Nigerians should occupy CBN until that circular is withdrawn. Anyone who wants to go on pilgrimage should go and buy FOREX at the prevailing market rate!
ReplyDeleteI am a Muslim and this action osmf this CBN is counter productive. Let those going on pilgrimage go at the same prevailing rate in the market and stop wasting scarce commodity. Hope this will not be repeated for Jerusalem pilgramages.
ReplyDeleteI c d hands/interest of presidency in dis pilgrimage forex business, so surprisingly that marketers, multinational companies etc who r eager to buy forex 4 d economic progress of d country can't afford it and d CBN/ PRESIDENCY r busy doin hidden business in d name of pilgrimage
ReplyDelete