As the Federal Government begins the airlift of intending hajj pilgrims
on Monday, the Central Bank of Nigeria(CBN) has extended a concessionary
exchange rate of N197 per US Dollar to them.
In its circular entitled ‘2016 Hajj Operations: Purchase of Pilgrims
Travelling Allowance (PTA)’ sent to all authorized dealers and general
public and posted on its website on Thursday, the apex bank states that
arrangements made for the Hajj operations including the pegging of the
US dollar at N197 was to enable the intending pilgrims purchase their
PTA.
The circular reads in part: “Authorised dealers and the general public
are hereby notified of the following arrangements for 2016 Hajj
Operations:
Each pilgrim is entitled to purchase a minimum of US$750 and maximum of
US1,000 as PTA.The Federal Government has approved that intending
pilgrims are to be sold the PTA at a concessionary exchange rate of N197
to the US dollar.
“No commission shall be charged by the banks for the sale of PTA to the
intending pilgrims. CBN shall sell the PTA to the designated banks in
Lagos and Abuja and the accounts of the respective banks shall be
debited as soon as the funds are disbursed.
“Each designated bank is required to sell to the CBN the unutilised
funds not later than two weeks from the date of the last inward flight
to Nigeria from Jedda, while the accounts of the banks shall be credited
promptly.”
“The approved schedule showing the distribution of the pilgrims expected
to perform the 2016 Hajj and the designated banks that will handle the
sales of the PTA to the pilgrims in the FCT, each state of the
federation, the Armed Forces and the National Hajj Commission
Headquarters, is stated” in the schedule for guidance.
Hajj: CBN pegs exchange rate at N197/$
Reviewed by Sommy Advertisement Agency
on
Friday, August 05, 2016
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