Regulatory Alerts2008-10-16 | BSD/DIR/GEN/VOL.2/020Interim Capacity Building Workshop For Non-Executive Directors Of Microfinance Banks In Nigeria
The Central Bank of Nigeria has announced the arrangements for 2008 Hajj operations regarding the purchase of Traveling Allowance (PTA) in Saudi Riyal Travellers' Cheques (SRTCs). Each pilgrim is entitled to a minimum of US$750 and a maximum of US$1,500 as PTA. The designated banks will be issued with SRTCs two weeks before the Hajj operations, and any unutilized SRTCs must be returned within two weeks after the last flight arrives in Nigeria from Saudi Arabia. No commission shall be charged by the banks for selling SRTCs to the intending pilgrims. The Central Bank has also provided a list of designated banks and their assigned regions.
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advisory