U.S ANNOUNCES VISA CURBS FOR SOME FOREIGN NATIONALS IN SOUTH AFRICA. (PHOTO).

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 U.S announces visa curbs for some foreign nationals in South Africa Secretary of State Marco Rubio ‌said on Tuesday the U.S. government was announcing a new visa restriction ​policy targeting some foreign nationals ​in South Africa. The policy targets "foreign ⁠nationals who are responsible for, ​or complicit in, the enactment or ​implementation of laws or policies that enable uncompensated land seizures, race-based discrimination, and/or ​the incitement of imminent violence ​against members of minority ethnic or racial ‌groups ⁠in South Africa," Rubio said in a statement. "The South African government has not adequately addressed the ​previously laid ​out ⁠concerns," Rubio said, Reuters reported. Relations between Washington and Pretoria have ​soured since the start of ​Donald ⁠Trump's second term, with the U.S. president criticizing the country ⁠for ​its policies aimed at ​addressing racial inequality.
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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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