In line with recent directives from the Central Bank of Nigeria (CBN), individuals and business representatives can walk into any Zenith Bank branch in Nigeria to procure FOREX for the purpose of Personal travel Allowance (PTA) and Business Travel Allowance (BTA).
This directive, according to the CBN, is geared towards accommodating all stakeholders in the foreign exchange (FOREX) market and increasing FOREX availability to all end-users.
FOREX can be procured for PTA or BTA at Zenith Bank at the following exchange rates:
- USD at N358/$
- EUR at N405.12/€
- GBP at N468.78/£
Meanwhile, there are specific requirements for both PTA and BTA as you will see below.
Personal Travel Allowance (PTA) Requirements
Below are the requirements for Personal Travel Allowance:
- Applicants shall be eighteen (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 a valid visa of the country of destination
- Applicants shall have a return air ticket
- PTA shall only apply to journeys of not less than ﬁve (5) hours ﬂight time
- 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
- Applicants shall be entitled to $4,000.00 per quarter
Business Travel Allowance (BTA) Requirements
- Below are the requirements for Business Travel Allowance. 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
- Letter of nomination from the Nigerian company
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