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Zenith Bank Toes CBN Rules In Sale Of Forex, BTA And PTA To End Users, Opens Doors To Everyone

The Oasis Reporters

June 11, 2019

Ebenezer Onyeagwu steps in as new CEO, Zenith Bank PLC. An old hand, he grew from within the bank, where he acquired his grooming.

One of Nigeria’s fastest growing new generation banks, Zenith Bank has fine-tuned it’s sale of foreign exchange to all end users, irrespective of client’s relationship with the bank.
This is in line with current Central Bank of Nigeria, CBN rules, the apex bank of Africa’s most populous country.

The basic criteria for the sale shall be :

Applicants shall have a return air ticket to be qualified for PERSONAL TRAVEL ALLOWANCE (PTA) and shall be eighteen (18) years of age and above.
Sales of PTA shall be for travel to be undertaken not more than 14 days from the day of the purchase of PTA.

Applicants could be account holders or non-account holders in the bank.
PTA shall only apply to journeys of not less than five (5) hours flight time.
Applicants shall present verifiable BVNs to their bankers.

Applicants shall also have valid visa of the country of destination and be holders of valid Nigerian International Passport with the flight equally originating from Nigeria.
Applicants shall be entitled to $4,000.00 per quarter.

The bank also notes that PTA/BTA in USD/EUR/GBP are available in all Zenith bank branches, nationwide.

In a press statement made available to The Oasis Reporters recently, Zenith Bank says that the new regulations are in line with recent directives from the Central Bank of Nigeria (CBN), geared towards accommodating all stakeholders in the foreign exchange (FOREX) market and increasing FOREX availability to all end-users.

“Please be informed that customers and other users can walk into any of our branches nationwide to procure FOREX for the purpose of PTA and BTA at the following exchange rates:
USD at N358/$
EUR at N405.12/€
GBP at N468.78/£” it went on to say and added that the requirements for each category is as follows:

B. BUSINESS TRAVEL ALLOWANCE (BTA)
Letter of nomination from the Nigerian company.
Plot 84, Ajose Adeogun Street,
Victoria Island, Lagos.
Certificate of Incorporation.
Letter of invitation from the company abroad.
Zenith Bank Plc.
In addition to the conditions stated above for PTA, the following additional
requirements for BTA were stated that a company can buy up to 5,000 US Dollars per quarter.

Greg Abolo

Blogger at The Oasis Reporters.

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