Story by Kayode Tokede
In furtherance to Central Bank of Nigeria easy access to foreign exchange, the Zenith Bank Plc has said travelers can access Personal Travel Allowance (PTA) and Business Travel Allowance at N358/Dollar in all of its branches across the world.
The bank also said other foreign currencies, Euro and Pound sterling are to be sold to customers at N405.12 and N468.78 respectively.
A staff of the bank explained to our correspondent that the offer is available to all customers of operating banks in Nigeria, stressing that travelers must meet certain requirements to facilitate the process.
The lender on Tuesday said “In line with recent directives from the CBN, geared towards accommodating all stakeholders in the foreign exchange market and increasing foreign exchange availability to all end-users, please be informed of that customers and other users can walk into any of our branches nationwide to procure foreign exchange for the purpose of PTA and BTA at the following exchange rates, USD at N358/$; EUR at
The bank highlighted requirements for each category which include “PTA, applicants shall be 18 years of age and above; applicants could be account holders or non-account holders in the bank; applicants shall be holders of valid Nigerian International Passport; applicants shall have valid visa of the country of destination; Applicants shall have a return air ticket and PTA shall only apply to journeys of not less than five hours flight time.
Others are the flight must originate from Nigeria; Sales of PTA shall be for travel to be undertaken not more than 14 days from the day of the purchase of PTA; Applicants shall present verifiable BVNs to their bankers and Applicants shall be entitled to $4,000.00 per quarter.
For BTA, the banks said, “In addition to the conditions stated above for PTA, kindly note the following additional requirements for BTA, A company can buy up to 5,000 US Dollars per quarter; Certificate of Incorporation; Letter of invitation from the company abroad and Letter of nomination from the Nigerian company.”