Regulatory Alerts2013-09-06 | TED/FEM/FPC/GEN/01/0082013 Hajj Operations - Purchase Of Pilgrims Travelling Allowance (PTA)
The Central Bank of Nigeria (CBN) has issued a circular on the re-introduction of the Cash-less policy to reduce cash transactions in the Nigerian economy. Under this policy, all cash transactions exceeding 5 million Naira will be subjected to scrutiny by the CBN. This means that businesses and individuals conducting transactions worth more than this amount must provide information about the source of the funds. The circular also contains a list of branches of various banks across Nigeria where the CBN has deposited money to promote cash-less transactions. These branches will serve as depots for the disbursement of the money provided by the CBN. This move is aimed at reducing the amount of cash in circulation and encouraging the use of electronic payment systems, such as mobile banking and online payments. By doing so, the CBN hopes to tackle issues like tax evasion, corruption, and money laundering, which are often facilitated through large cash transactions.
TRADE AND EXCHANGE DEPARTMENT 09 46237800 09 46237811 E-mail address:ted@cenbank.org September 6, 2013 TED/FEM/FPC/GEN/01/008 TO: ALL AUTHORISED DEALERS AND GENERAL PUBLIC 2013 HAJJ OPERATIONS: PURCHASE OF PILGRIMS TRAVELLING ALLOWANCE (PTA) Authorised Dealers and the general public are hereby notified of the following arrangements for 2013 Hajj operations:
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The Federal Government has approved for intending pilgrims, a concessionary exchange rate of N146.00 to the US Dollar for amount of Pilgrims Travelling Allowance (PTA) between US$750.00 and US$1,000.00.
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For pilgrims buying PTA above the US$1,000.00, the difference shall be bought at the prevailing Naira exchange rate to the US Dollar on the day of the purchase.
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No commission shall be charged by the banks for the sale of PTA between the approved US$750.00 and US$1,000.00.
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The Central Bank of Nigeria will commence the issuance of PTA to the designated banks from Monday 9th September, 2013 at the CBN Branches in Lagos and Abuja.
The accounts of the respective banks shall be debited as soon as the funds are disbursed.
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Each designated bank is required to sell to the CBN the unutilised PTA not later than two (2) weeks from the date of the last inward flight to Nigeria from Jeddah, Saudi Arabia upon reconciliation of the transactions with the CBN and the accounts of the banks shall be credited promptly.
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The approved schedule showing the distribution of the pilgrims expected to perform the 2013 Hajj and the designated banks that will handle the sales of the PTA to the pilgrims in each State of the Federation, the Federal Capital Territory (FCT), National Assembly, the Armed Forces and the National Hajj Commission is stated below for guidance.
| S/N | STATE | 2013 | NAMES OF BANKS |
|---|---|---|---|
| ALLOCATION | |||
| 1 | ABIA | de | Union Bank Plc, Umuahia |
| 2 | ADAMAWA | 1,894 | Zenith Bank Plc Yola |
| 3 | AKWA IBOM | 80 | UBA Plc Uyo |
| 4 | ANAMBRA | 80 | Fidelity Bank Awka |
| 5 | BAUCHI | 2,906 | FCMB Bauchi |
| 94 | |||
| 6 | BAYELSA | UBA Plc Yenogoa | |
| 7 | BENUE | 412 | Unity Bank Plc New Bridge |
| Road Makurdi | |||
| 8 | BORNO | 2,391 | UBA Plc Maiduguri |
| 9 | CROSS RIVER | 80 | First Bank Plc Calabar |
| 10 | DELTA | 117 | Union Bank Asaba |
| 11 | EBONYI | 117 | Union Bank Ogoja Rd. |
| Abakaliki | |||
| 12 | EDO | 272 | Unity Bank New Lagos Rd. |
| Benin | |||
| 13 | EKITI | 244 | Ecobank Ajilosun Ado-Ekiti |
| ENUGU | |||
| 14 | 88 | UBA Enugu Main | |
| 15 | FCT | 2,471 | Unity Bank Plc Gwagwalada |
| IE | GOMBE | 2,022 | Unity Bank Plc Gombe |
| IMO | 80 | ||
| 17 | UBA Plc Douglas Road | ||
| Owerri | |||
| 18 | JIGAWA | 2,584 | Sterling Bank Dutse Branch |
| I d | KADUNA | 5,629 | Unity Bank Yakubu Gowon |
| Way Kaduna | |||
| 20 | KANO | 5,676 | Unity Bank Plc Sani Abacha |
| Way Kano | |||
| 21 | KATSINA | 4,418 | Keystone (2,400) & UBA |
| (2,018) | |||
| 22 | KEBBI | 4,103 | Zenith Bank (2,103) & Unity |
| Bank (2,000) | |||
| 23 | KOGI | eat | Unity Bank Plc, Murtala M. |
| Way Lokoja | |||
| 24 | KWARA | 1,905 | Unity Bank (1,405) & First |
| Bank (500) |
2
| 25 | LAGOS | 3,097 | Union Bank Oregun, Lagos |
|---|---|---|---|
| 26 | NASARAWA | 1,773 | FCMB (773), Unity Bank |
| (500) & Skye (500) | |||
| 27 | NIGER | 3,249 | Skye Bank (1,159), Unity |
| Bank (1,100) & UBA (990) | |||
| 28 | OGUN | 1,217 | FCMB Abeokuta |
| 29 | ONDO | 317 | Unity Bank Oba Adesida |
| Road Akure | |||
| 30 | OSUN | 822 | Sterling Bank Plc Osogbo |
| 31 | OYO | 1,271 | First Bank (951) & FCMB |
| (320) | |||
| 32 | PLATEAU | 1,300 | FCMB (800) & Diamond |
| (500) | |||
| 33 | RIVER | 360 | Zenith Bank Azikiwe Rd |
| P/Harcourt | |||
| 34 | SOKOTO | 5,178 | UBA (2,500) & Unity Bank |
| (2,678) | |||
| 35 | TARABA | 1,349 | Zenith Bank (749) & Unity |
| Bank (600) | |||
| 36 | YOBE | 2,316 | Unity Bank Plc |
| 37 | ZAMFARA | 4,088 | Skye Bank Gusau |
| 38 | ARMED FORCES | 400 | Unity Bank Broad Street, |
| Lagos | |||
| 39 | National Assembly | 230 | Zenith Bank Maitama |
| 40 | Hajj Comm. | 221 | Keystone Bank CBD Abuja |
| H/quarters | |||
| TOTAL | 66,000 |
Please ensure compliance accordingly.
W. D. GOTRING FOR: DIRECTOR TRADE & EXCHANGE DEPARTMENT 3