Regulatory Alerts2008-12-30 | BSD/DO/CIR/VOL.2/12Year 2008 Christian Pilgrimage: Purchase of Pilgrims Travelling Allowance
The Central Bank of Nigeria has issued a notification regarding the 2008 Christian Pilgrimage to Israel. It states that up to 17,000 pilgrims will be allowed to undertake the journey and purchase a maximum of US$1,000 as Personal Travel Allowance (PTA). Designated banks have been specified where these transactions can take place, including Afribank Plc, Bank PHB, First City Monument Bank, FinBank Plc, First Bank Plc, Fidelity Bank Plc, GTBank Plc, Intercontinental Bank Plc, Oceanic Bank Int'l Plc, Union Bank Plc, UBA Plc, Unity Bank Plc, Skye Bank Plc, and Zenith Bank Plc. The notification also mentions that air ticket and visa requirements have been waived, but each pilgrim's passport should be retained by the bank for record purposes. Compliance with these guidelines is required, with penalties for any infractions or misuse of the waivers."