AU COMMISSION CHAIRPERSON ARRIVES IN BAMAKO TO REVIVE DIALOGUE WITH MALI. (PHOTO).

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 AU Commission Chairperson Arrives in Bamako to Revive Dialogue With Mali Mahmoud Ali Youssouf arrived for a two-day official visit, according to an AU statement. He was welcomed by Mali’s Foreign Minister Abdoulaye Diop and is also expected to meet with President Assimi Goïta, it said, Sputnik reported. The visit comes as Mali remains suspended from AU activities since June 2021. The AU has reaffirmed its support for Mali’s sovereignty and territorial integrity while proposing increased assistance to the security sector.
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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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