Year 2008 Hajj Operations - Purchase of Travelling Allowance (PTA) In Saudi Riyal Travellers' Cheques (SRTCs)

Tel: 09 616 37 811 Fax: 09 616 37 809 E-mail address:ted@cenbank.org Central Bank of Nigeria Central Business District P.M.B. 0187 Garki, Abuja Our Ref: TED/FEM/FPC/GEN/01/ 110/08 October 15, 2008 To: ALL AUTHORISED DEALERS AND THE GENERAL PUBLIC YEAR 2008 HAJJ OPERATIONS - PURCHASE OF TRAVELLING ALLOWANCE (PTA) IN SAUDI RIYAL TRAVELLERS' CHEQUES (SRTCs) Authorised Dealers and the general public are hereby notified of the following arrangements for the 2008 Hajj operations:

1. Each pilgrim is entitled to the Saudi Riyal Travellers' Cheque (SRTCs)
   equivalent of a minimum of US$750.00 and a maximum of US$1,500.00 as PTA. On the day of purchase of the SRTC, the prevailing Naira exchange rate shall apply.

2. No commission shall be charged by the banks for the sale of SRTCs to the intending pilgrims.

3. The Central Bank of Nigeria shall issue SRTCs to the designated banks two (2)
   weeks before the commencement of the Hajj Operations and the accounts of the respective banks shall be debited as soon as the funds are disbursed. The actual date of disbursement of the TCs to the designated banks will be communicated in due course.

4. Each designated bank is required to sell to the CBN the unutilized SRTCs not later than two (2) weeks from the date of the last inward flight to Nigeria from Jedda, while the accounts of the banks shall be credited promptly.

The approved schedule showing the distribution of the Pilgrims expected to perform the 2008 Hajj and the designated banks that will handle the sales of the PTA to the pilgrims in the Federal Capital Territory (FCT), each state and the Armed Forces is stated below for guidance.

N. T. IGBA For: Ag. DIRECTOR TRADE & EXCHANGE DEPARTMENT