NIGERIAN PILOTS AND CREW RELEASED IN BURKINA FASO, HEAD TO PORTUGAL. (PHOTO).

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 Nigerian Pilots and Crew Released in Burkina Faso, Head to Portugal Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has announced the release and departure of the pilots and crew of the Nigerian Air Force C-130 Hercules aircraft (NAF 913) that had been detained in Burkina Faso. In a statement issued on Thursday, Ambassador Tuggar confirmed that  following  engagement in Burkina Faso, the pilots and crew of NAF C-130 (913) have been formally cleared to depart and are currently en route to Portugal via Accra. The minister highlighted Nigeria’s commitment to dialogue and regional cooperation, stating that these efforts continue to yield positive outcomes. Ambassador Tuggar paid glowing tribute to President Bola Ahmed Tinubu for his visionary leadership and steady guidance which he said proved decisive in resolving the matter through constructive diplomacy and peaceful engagement.
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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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