Requirements to access forex for pta and school fees

Requirements to access forex for pta and school fees

Allowance (PTA) and School fees. Sale shall be every Tuesday. 2. SALES FOR PERSONAL TRAVEL ALLOWANCE (PTA) The following conditions shall henceforth apply for sales for PTA: a) b) c) g) h) Applicants shall be eighteen (18) years of age and above. Applicants/beneficiaries shall be holders of Nigerian blogger.com Size: KB 21/02/ · The Central Bank of Nigeria on Monday modified its foreign exchange policy with the reduction of the tenor of its forward sales from the current maximum cycle of days to 60 days from the date of transaction. For business and personal travel allowances, the CBN said it would ease the difficulties encountered by Nigerians [ ] Forex would be sold every Tuesday for Personal Travel Allowance (PTA) and School fees. Bank rates for PTA and School fees will be available on wetinberate very soon. The requirement or conditions to be met before a customer can have to access to Forex are as follow: For Personal Travel Allowance (PTA) Applicants shall be eighteen (18) years of age Estimated Reading Time: 2 mins

CBN to make forex available for PTA, school fees, others - Nigeriannewsdirectcom

The Central Bank of Nigeria on Monday modified its foreign exchange policy with the reduction of the tenor of its forward sales from the current maximum cycle of days to 60 days from the date of transaction. For business and personal travel allowances, the CBN said it would ease the difficulties encountered by Nigerians in obtaining forex for these types of transactions. To achieve this, it said in a statement issued by its Acting Director of Communications, Mr. Isaac Okoroafor, that it would provide direct additional funding to banks to meet the needs of Nigerians for personal and business travels, requirements to access forex for pta and school fees, medical needs and school fees, effective immediately.

The CBN said it expected such retail transactions to be settled at a rate not exceeding 20 per cent above requirements to access forex for pta and school fees interbank market rate. Such payments must be made by commercial banks directly to the institution specified by the customer. The CBN added that it would ensure that the process was smooth, noting that customers in need of forex would get the foreign exchange they genuinely demanded.

It said the decision was part of efforts to further increase the availability of foreign exchange to all end-users. In a bid to ease the burden of travellers and ensure that transactions are settled at much more competitive exchange rates, the CBN directed all banks to open forex retail outlets at major airports across the country as soon as logistics permit. In a bid to increase the efficiency of the forex market and maintain its confidence, the CBN said it would immediately begin the implementation of an articulated programme to clear all the unfilled orders in the interbank forex market.

The statement noted that the CBN would implement an effective intervention programme to support the inter-bank market to ensure adequate liquidity necessary to deliver an efficient forex market. The apex bank also advised the Financial Market Dealers Exchange to activate its forex order-book systems as soon as possible and also accelerate the on-boarding of forex clients on the forex relationship systems to ensure total transparency of the market.

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Allowance (PTA) and School fees. Sale shall be every Tuesday. 2. SALES FOR PERSONAL TRAVEL ALLOWANCE (PTA) The following conditions shall henceforth apply for sales for PTA: a) b) c) g) h) Applicants shall be eighteen (18) years of age and above. Applicants/beneficiaries shall be holders of Nigerian blogger.com Size: KB 05/07/ · Requirements to access forex for pta and school fees. Friday, March 31, PM / CBN. Information reaching the Central Bank of Nigeria (CBN) reveals that some customers seeking to buy forex for BTA, PTA, medical and school fees are being frustrated by some banks with the false claim that the CBN is not allocating enough forex to them for BTA, PTA, Tuition and Medical fees Sale of PTA shall be for 05/09/ · Applicants shall be account holders in the chosen bank – You have to own a bank account in the bank you want to buy forex from PTA shall only apply to journeys of not less than five (5) hours flight time. – People traveling to places like Ghana or neighboring African West African do not qualify for a PTA