Regulatory Alerts2006-12-15 | TED-FEM-GEN--FPC-01-17-06Year 2007 Hajj Pilgrimage: Re: Purchase of Pilgrims' Travelling Allowance (PTA) in Saudi Riyal Travellers' Cheques.
The Central Bank of Nigeria has issued a directive to all authorized dealers regarding the exchange rate for pilgrims' traveling allowance for the 2007 Hajj pilgrimage. The bank has directed dealers to use the prevailing market rate on the day of purchase, rather than the previously allowed concessionary exchange rate. Failure to comply with this directive will result in sanctions.
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