Regulatory Alerts2006-11-29 | TED-FEM-GEN-FPC-01-08Year 2007 Hajj Pilgrimage - Re: Purchase of Pilgrims' Travelling Allowance (PTA) in Saudi Riyal Travellers' Cheques.
The Central Bank of Nigeria has notified the following details for the year 2007 Hajj pilgrimage: a maximum of 65,000 Muslims are allowed to perform the pilgrimage, each with an individual PTA (Pilgrims' Travelling Allowance) between US$500 and US$1,000 at an exchange rate of SR3.75 per US$. The president has approved a concessionary exchange rate of N120 to US$1 for PTA. Saudi Arabia Travelers Cheques will be used as payment method. Authorized commercial banks have been allocated specific numbers of pilgrims and respective banks responsible for each state are also mentioned."
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