Regulatory Alerts2004-11-16 | TED-AD-133-2004Re: 2004 Christian Pilgimage - Purchase of Pilgrims Travelling Allowance
The Central Bank of Nigeria has announced the purchase of personal travel allowance (PTA) for a maximum of 12,000 Christian pilgrims to visit holy lands in 2004. Each pilgrim must purchase a minimum of $500 and a maximum of $1,000 at a concessionary exchange rate of N128.65/$ through designated banks: United Bank for Africa Plc, Zenith International Bank Plc, Bank of the North Ltd, First Bank of Nigeria Plc, National Bank Ltd, Standard Trust Bank Plc, Union Bank of Nigeria Plc, Bond Bank Ltd and Guaranty Trust Bank Plc. Designated banks must sell PTA in travellers' cheques to pilgrims, whose names and passport numbers are included on the comprehensive master list. The Israeli government will issue visas at the point of entry, Ben Gurion Airport, Tel Aviv, Israel. No air tickets will be required for purchasing PTA through chartered flights. Designated banks must report actual sales within 30 days from the end of the exercise to the Central Bank of Nigeria.