Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) are the foreign currency (dollar) amount allowed by the CBN for Nigerians traveling abroad for personal or business reasons.
The rate of exchange for PTA and BTA is currently at N360/$ and no other charges are allowed by the bank on your PTA or BTA purchases.
The maximum allowed is $4,000 and $5,000 for Personal Travel Allowance and Business Travel Allowance respectively and should be processed within 24 hours.
Below is the list of requirement.
- The customer must be account holder of the bank he/she is requesting from.
- The customer account must have BVN.
- PTA form is to be filled out and signed by the customer.
- For BTA, request must be on business letterhead requesting for BTA for a traveling director or executive. Copy of certificate of incorporation to be provided
- Applicant must be 18 years old and above.
- Request for PTA or BTA must be made not earlier than 2 weeks to travel date.
- Applicant must possess valid Nigerian international passport. A copy of the biodata page to be submitted for processing of the request.
- Applicant must possess valid visa and travel ticket.
- Applicant account to be funded for Naira equivalent of the PTA or BTA.
- Journey must not be less than 5 hours flying time from Nigeria.
- Journey take off location to any destination must be from Nigeria.
- Request can only be made on quarterly basis. (Every 3 months)
Personal Travel Allowance (PTA) and Business Travel Allowance (BTA)