EL-RUFAI TO REMAIN IN CUSTODY AS COURT ADJOURNS BAIL APPLICATION TO APRIL 14.(PHOTO).

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 El-Rufai to remain in custody as court adjourns bail application to April 14 Justice Rilwanu Aikawa of a Federal High Court in Kaduna has adjourned the hearing of the bail application filed by former Kaduna State governor, Nasir Ahmad El-Rufai, to April 14th. The bail application of the former governor came up before the court today. April 1. The court adjourned the case after listening to arguments from both the defence and prosecution  El-Rufai was arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on a 10-count charge bordering on alleged conversion of public property and money laundering. He pleaded not guilty to all the charges. The court ordered that he remain in ICPC custody pending the hearing of his bail application on the fixed date. The former governor arrived at the court premises around 9:00 a.m. in a black Hilux vehicle, accompanied by DSS officials.
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FX CRISIS: TRAVEL ALLOWANCES BY CASH NO LONGER PERMITTED- CBN. (PHOTO)

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 FX Crisis: Travel Allowances By Cash No Longer Permitted — CBN


In a move to solve 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.

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