BY LAZARUS IBEABUCHI
The Federal Government through the Central Bank of Nigeria, CBN has approved a concessionary exchange rate of N145.00 to the US Dollar for Christian pilgrims.
This represents a concession of about 7 per cent from the prevailing exchange rate of about N156 to the US dollar.
According to a statement by the CBN, titled; Year 2012 Christian Pilgrimage purchase of pilgrims traveling allowance signed by Batari Musa, Director, Trade and Exchange Department, CBN, "The exchange rate is however, for Pilgrims Traveling Allowances, PTA, between $750 and $1,000.”
It would be recalled that the Federal Government had in September granted same waiver to Hajj pilgrims.
According to Musa, each pilgrim travelling to Israel is entitled to a maximum of $750.00 while those going to Israel/Rome or Greece are entitled to a maximum $1,000 as PTA.
He, however, said that infraction of any of the requirements or abuse of any waiver shall attract appropriate penalty.
He said; "The Federal Government has approved the commencement of the 2012 Christian Pilgrimage operation from October 25, 2012. The Government has also approved a concessionary exchange rate of NI45.00 to the US Dollar for purchase of Pilgrims Traveling Allowance (PTA) of $750.00 and $l, 000.00.
