Tag
PTA
The Central Bank of Nigeria (CBN) has announced a significant policy change, directing all authorised dealer banks to cease the payout of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) in cash.
Adebisi, a young Nigerian set to migrate to Canada for good, found himself in a precarious situation when he visited the bank to purchase Personal Travel Allowance (PTA) with his July salary.
The CBN recently announced that effective from November 30, 2021, the e-Form A for invisible transactions will replace the hard copy process
First Bank of Nigeria has informed its customers that the Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) will now be transferred to the FirstBank Travel Card.
Given the rush for PTA and the scarcity of dollars, Nigerian banks have devised ways to ration the allocation of PTA to customers.
PTA on foreign trips by Nigerians rose from $5.59 billion between January and September 2018, to $9.01 billion in the same period of 2019.