The Central Bank of Nigeria (CBN) has stopped dollar cash payment for Business Travel Allowance (BTA) and Personal Travel Allowance (PTA).
All such transaction should be treated by cards,through electronic channels, either debit or credit cards.
It stated that the new measure was part of efforts towards making sure that only genuine travellers access BTA and PTA, going forward.
The CBN in a statement said, “Memorandum 8 of the Foreign Exchange manual and the circular with reference FMD/DIR/CIR/GEN/08/003 dated February 20, 2017, stipulate the eligibility criteria for accessing Personal and Business Travel, allowances (PTA/BTA).
“In line with the Bank’s commitment to ensure transparency and stability in the foreign exchange market and avoid foreign exchange malpractices, All Authorized Dealer Banks shall henceforth effect payout of PTA/BTA through electronic channels only, including debit or credit cards.
“For the avoidance of doubt, payment of PTA/BTA by cash is no longer permitted.
“Authorized Dealers and the general public are hereby to note and comply accordingly.”
 has stopped dollar cash payment for Business Travel Allowance (BTA) and Personal Travel Allowance (PTA).){kind=link}