2016 Hajj: Sell Dollars To Pilgrims @ N197, CBN Authorises Banks

The Central Bank of Nigeria, CBN, in a circular on Thursday, marked, TED/FEMFPC/GEN/01/005, directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance, PTA, to intending pilgrims at a concessionary exchange rate of N197 to $1.

The CBN said: "Each pilgrim is entitled to purchase a minimum of $750.00 and maximum of US$1,000.00 as PTA. The Federal Government has approved that intending pilgrims are to be sold the PTA at a concessionary exchange rate of N197.00 to the US dollar.

"No commission shall be charged by the banks for the sale of the PTA to the intending pilgrims. The Central Bank of Nigeria shall sale the PTA to the designated banks in Lagos and Abuja and the accounts of the respective banks shall be debited as soon as the funds are disbursed...."

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Get Right Hands To Fix Economy, Not Classmates From Katsina – Ezeife Tells Buhari

Dr. Chukwuemeka Ezeife, a former permanent secretary and state governor has warned President Muhammadu Buhari to do away with selfish tendencies in his appointments.

Ezeife warned that Nigeria’s economy was in crisis, “We have to adopt long-term planning on where we want the country to be,” he told Daily Trust in an interview.

“I support the Central Bank of Nigeria as they want naira to float as having two prices for foreign currency.

“This will deter somebody who buys hard currency from the bank and comes out to sell on the black market.

“There is the need for an economic advisory council, they advise economic ministry and the presidency.

“We should avoid ‘dogon turanci’ at seminars, workshops but to develop the country’s agric, industry.”

The elder statesman further urged that, “Buhari should get the right people and not his classmates from Katsina only.” 

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EMEFIELE STOPPED USING PRIVATE JET SINCE 2015... HE IS MODEST' - CBN

The Central Bank of Nigeria (CBN) has denied reports that the Governor of the institution makes use of chartered flights to carry out official travels and assignments.

In a statement released on Saturday, the CBN said while its former governors, Charles Soludo and Emir of Kano, Muhammadu Sanusi II made use of chartered flights, the present head of the apex bank, Godwin Emefiele has stopped the practice.

CBN TO WITHDRAW ONE TRILLION NAIRA FROM CIRCULATION

The Central Bank of Nigeria (CBN) says it intends to pull out up to N1 trillion from circulation in a bid to stabilise the economy.

Already, N525 billion has been pulled out, less than one week after the policy, which seeks to tighten money supply, began.