Pilgrims paid for forex long before latest adjustments – Emefiele – Today.ng

The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Tuesday said there has been an agreement with the Pilgrim’s Commission to sell the dollar at N197 long before the latest adjustments.

Mr Emefiele added that the pilgrims had made advanced payments for the exercise.

The CBN had on Thursday directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance, PTA, to intending pilgrims at a concessionary exchange rate of N197 to $1.

“Each pilgrim is entitled to purchase a minimum of $750.00 and maximum of US$1,000.00 as PTA.

“The Federal Government has approved that intending pilgrims are to be sold the PTA at a concessionary exchange rate of N197.00 to the US dollar.

“No commission shall be charged by the banks for the sale of the PTA to the intending pilgrims”, the statement said.