Nairametrics| The Central Bank of Nigeria has issued new guidelines for the documentation required to access Forex for Personal Travel Allowance, School and Medical Fees.

Here is a list of all the documents you will need and criteria before you can get Forex from banks along with an explanation notes.


SALES FOR PERSONAL TRAVEL ALLOWANCE

The following conditions shall henceforth apply for sales of PTA

Applicants shall be eighteen (18) years of age and above. – No forex for kids under the age of 18
Applicants/beneficiaries shall be holders of Nigerian Passports – Means foreigners can’t access this market
Applicants shall be account holders in the chosen bank – You have to own a bank account in the bank you want to buy forex from
PTA shall only apply to journeys of not less than five (5) hours flight time. – People traveling to places like Ghana or neighboring African West African do not qualify for a PTA.
The flight must originate from Nigeria – This is a no brainier
Sale of PTA shall be for travel to be undertaken not more than 14 days from the day of the purchase of PTA. – Means you can buy the forex within 14 days of your travel so you do not need to have a boarding pass.
Applicants shall present a current tax clearance certificate. – Means you must have a valid tax clearance certificate for taxes paid last year. If you live in Lagos, then you must get it from the Lagos State Inland Revenue Service.
Applicants shall present verifiable BVNs to their bankers – This can be a nutcase. The BVN certificate can be obtained from your bank. Make sure you get it before applying for Forex.


READ MORE: http://nairametrics.com/what-you-need-to-access-forex-for-pta-school-medical-fees/



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