Regulatory Alerts2013-10-14 | TED/FEM/FPC/GEN/01/010Year 2013 Christian Pilgrimage - Purchase of Pilgrims Travelling Allowance
The Central Bank of Nigeria has set arrangements for the purchase of pilgrims' travel allowance (PTA) for Christian pilgrimage in 2013, with each individual entitled to a maximum of $1,000 at a concessionary exchange rate. No tax clearance is required, and authorized dealers may sign for and collect PTA on behalf of pilgrims. Visa requirements have been waived as visas will be issued upon arrival in Israel or Italy. Designated banks should submit sales returns within two weeks after the end of the exercise.
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