Regulatory Alerts2024-02-14 | TED/FEM/PUB/FPC/001/006Allowable Channels for Payout of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA)
The Central Bank of Nigeria has instructed all authorized dealer banks to only pay out Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) through electronic channels, including debit or credit cards, in order to ensure transparency and stability in the foreign exchange market and prevent malpractices. This means that cash payments for PTA/BTA are no longer allowed. Authorized dealers and the general public are expected to comply with this directive.
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fx
monetary