Forex Crisis: Banks Slash PTA/BTA To $2000, Review Processing Time To 120 Days

Forex Crisis: Banks Slash PTA/BTA To $2000, Review Processing Time To 120 Days


Nigerian banks have cut the amount of dollars for Personal Travel allowance (PTA) and Business Travel Allowance (BTA) by 50 per cent – from $4000 to $2000 respectively.

The commercial banks have also commenced an upward review of the processing time for accessing Foreign Exchange (FX) for international school fees to 120 days from 48 hours.

In a notice to the customer, the lender disclosed that the new allocation would be given to applicants twice per year as long as they fulfilled some requirements, including applying for foreign exchange requests within 14 days of the travel date.

Comments

Post a Comment

Popular posts from this blog

ENSURE THE KILLERS OF HON. JUSTICE AZUKA FACE JUSTICE, YAPJEN TASK THE NPF

Image
A Good Governance and  Advocacy Group, Youth Advocates for Peace, Justice and Empowerment Network [YAPJEN] has called on the Inspector General of  Police Kayode  Egbetokun , the Commissioner of Police, Anambra State Police Command to ensure that the killers of Justice Azuka are made to face justice.  Late Justice Azuka who before his gruesome murder was the member representing Onitsha North 1 Constituency in the Anambra State House of Assembly. The law maker's body was found by the roadside of the second Niger Bridge. Azuka's lifeless body said to be already decomposing  was found by a joint team of security operatives in the early hours of Thursday, the 6th of February, 2025. This is coming 44 days after he was kidnapped  on December 24, 2024 along the Ugwunaobankpa Road in Inland Town, Onitsha, while returning home for Christmas.  In a Press Statement by the group's Director of Communication, Comrade Benedict Chidobem, Esq lamented the gruesome murde...
Read more

UNESCO to partner SDG National Council as Dr. Idowu, Sec. Gen NATCOM UNESCO hosts Amb Nwachukwu

Image
The United Nations Educational, Scientific and Cultural Organization (UNESCO) will collaborate with the Sustainable Development Goals (SDG) National Students Council, Office Of The Senior Special Assistant To The President of Nigeria on Students Engagement towards the localisation of Sdgs in Nigeria's Educational Institutions.  This was disclosed by Dr. Lateef Idowu, the Secretary-General of the Nigerian National Commission for UNESCO (NATCOM UNESCO), when the SDG National Students Council led by its National Coordinator, Ambassador Timothy Nwachukwu paid a courtesy visit to the NATCOM UNESCO office in Abuja, Nigeria's capital city. Dr. Idowu, expressed UNESCO's commitment to advancing the SDGs, particularly Goal 4 which focuses on quality education. He praised the SDG council for its commitment in promoting the SDGs among Nigerian Students and Youths and pledged UNESCO's full support "UNESCO is dedicated to the SDGs and we believe the youth have a critical role to...
Read more

Remain calm and steadfast, we're on the right path - Peter Obi to Obidients

Image
  "I encourage Nigerians to remain calm and steadfast in the journey to reclaiming their mandate of a New Nigeria. I will never give up on this journey until victory is achieved". "I never expected the journey to a New Nigeria to be an easy one. The forces, who had over the years, lived off the old order, are bound to fight back, as is being experienced now". "If they come at us through land, air and sea, we will respond to them through land, air and sea but, we will remain law abiding and will never give up on the nation. We are on the right path and we will remain committed to the course". "I reiterate my commitment to building a Nigeria that will be beneficial to every Nigerian. The struggle to reclaim this mandate is not about me as a person but, about millions of Nigerians who placed their trust in me through their votes". "The millions of Nigerians who voted for me did not just cast their votes but, they invested their hopes in me and ...
Read more