• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, October 1, 2025
No Result
View All Result
NewsNet Nigeria
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos
NewsNet Nigeria
No Result
View All Result
Home Economy

CBN prohibits travel allowances by cash to address forex crisis

by NewsNet Nigeria
2 years ago
in Economy
CBN prohibits travel allowances by cash to address forex crisis
Share on FacebookShare on TwitterShare on LinkedinShare on Whatsapp

As part of measures to deal with the foreign exchange crisis in the country, the Central Bank of Nigeria (CBN) says Personal and Basic Travel Allowances will only be paid through electronic channels and not by cash.

The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024.

The circular titled, ‘Allowable Channels For Payout Of Personal Travel Allowance (PTA) And Business Travel Allowance (BTA)’.

“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),” the circular partly read.

“In line with the Bank’s commitment to ensure transparency and stability in the foreign exchange market and avoid foreign exchange malpractices, All Authorised Dealer Banks shall henceforth effect payout of PTA/BTA through electronic channels only. including debit or credit cards.”

The CBN directed all authorised dealers and the general public to note and comply accordingly.

Credit: CHANNELS TV

Previous Post

FG, Governors agree on State Police to tackle insecurity

Next Post

63 senior staff of Delta Assembly undergo promotion exercise

MORE NEWS

FG Declares Friday, September 5, Public Holiday for Eid-ul-Mawlid
Celebration

The Worst Is Over, Nigeria on Path to Recovery, Says Tinubu at 65th Independence Anniversary

October 1, 2025
Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary
Celebration

Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary

October 1, 2025
Senator Nwoko Urges Ohaneze’s Sustained Backing for Creation of Anioma State
Celebration

Senator Nwoko Urges Ohaneze’s Sustained Backing for Creation of Anioma State

September 30, 2025
Delta North Monarch Affirms Anioma Are Igbos, Backs Nwoko’s Push for Statehood
Economy

Delta North Monarch Affirms Anioma Are Igbos, Backs Nwoko’s Push for Statehood

September 24, 2025
Next Post
63 senior staff of Delta Assembly undergo promotion exercise

63 senior staff of Delta Assembly undergo promotion exercise

Leave Comment

RECENT STORIES

Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary

Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary

October 1, 2025
I am not senator for only APC members – Joel-Onowakpo

Constituents Express Concern Over Senator Joel-Onowakpo’s Perceived Silence in Senate

September 30, 2025
Warri Rebirth Initiative Postpones October 1st Celebration over Security Concerns

Warri Rebirth Initiative Postpones October 1st Celebration over Security Concerns

September 30, 2025
FRSC Loses Five Personnel to Reckless Drivers in September, Corps Marshal Orders Prosecution

FRSC Loses Five Personnel to Reckless Drivers in September, Corps Marshal Orders Prosecution

September 30, 2025
Arise TV Colleague Reveals Anchor, Somtochukwu Maduagwu, Jumped From Storey Building During Robbery

Arise TV Colleague Reveals Anchor, Somtochukwu Maduagwu, Jumped From Storey Building During Robbery

September 30, 2025

TRENDING STORIES

  • Ibru Organisation Chairman, Olorogun Oscar Ibru, Dies at 67

    Ibru Organisation Chairman, Olorogun Oscar Ibru, Dies at 67

    0 shares
    Share 0 Tweet 0
  • FIFA Strips South Africa of Win Over Lesotho for Fielding Ineligible Player

    0 shares
    Share 0 Tweet 0
  • Uroye Calls for Calm, Dialogue as Tension Heightens Over Killing of Jerry, Consoles Family

    0 shares
    Share 0 Tweet 0
  • At 70, I Owe All Life Has Given Me to God – Chief Ejovi

    0 shares
    Share 0 Tweet 0
  • Delta Police Begin Enforcement on Tinted Glass, Siren, Number Plate Regulations October 2

    0 shares
    Share 0 Tweet 0
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.

No Result
View All Result
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.