CBN Discontinues Payment Of BTA/PTA In Cash - Politics (2)

CBN Discontinues Payment Of BTA/PTA In Cash - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › CBN Discontinues Payment Of BTA/PTA In Cash (27684 Views)

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Yankee101: 7:25pm On Feb 15, 2024*

Una go explain tire
This won’t solve the bad decisions you started with cirrency devaluation and the attendant inflation

2 Likes 1 Share

Re: CBN Discontinues Payment Of BTA/PTA In Cash by VeeVeeMyLuv(f): 7:25pm On Feb 15, 2024

bluefilm:
What is BTA and PTA?

FX for traveling

3 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by UnknownQueen(f): 7:27pm On Feb 15, 2024

Will this let the naira breath?
If yes it's a welcome development even though my money is in usdt..

2 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Jogs1900: 7:27pm On Feb 15, 2024

This is very good development. ...

Some travellers traveling with their children will collect more than what they need as PTA even on their children ( ,probably underaged)travelling document because it's subsidized and immediately sell it to BDC.

12 Likes 1 Share

Re: CBN Discontinues Payment Of BTA/PTA In Cash by grandstar(m): 7:27pm On Feb 15, 2024

VeryWickedMan:
CBN has been plugging holes yet the Naira keeps falling.
A clueless bunch.

For the Naira to stop falling, the CBN should increase interest rates above that of inflation. That is global best practice.

4 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by brainhgeek(m): 7:27pm On Feb 15, 2024

Laudable move...only sustain and not revert it

3 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by faceland: 7:28pm On Feb 15, 2024*

This one na cashless police... Those into legal activates have nothing to worry about.

Cashless police would kill blackmarket dollar sales.

The Central Bank of Nigeria has banned the sale of forex directly to travelers in cash

https://www.youtube.com/watch?v=8F5IPFDmmhc

9 Likes 1 Share

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Cmanforall: 7:30pm On Feb 15, 2024

Understandable

Re: CBN Discontinues Payment Of BTA/PTA In Cash by FuckYeyeMods: 7:30pm On Feb 15, 2024

gaby:
Electronic card payments that are unreliable locally...lol

Take a look at what you type,.,.
Is either you're mumu or olodo abi just simply a bigot.

17 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by coputa(m): 7:34pm On Feb 15, 2024

VeryWickedMan:
CBN has been plugging holes yet the Naira keeps falling.
A clueless bunch.

it's going to take sometime, many waters has crossed under the bridge

10 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by emerged01(m): 7:37pm On Feb 15, 2024

VeryWickedMan:
CBN has been plugging holes yet the Naira keeps falling.
A clueless bunch.

You should know that saboteurs are at work.

5 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Domainer1999: 7:39pm On Feb 15, 2024

Make I help our Vaseline crew lord cheesy

PTA - Personal Travel Allowance
BTA - Business Travel Allowance

bluefilm:
What is BTA and PTA?

9 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Anguldi(m): 7:40pm On Feb 15, 2024

emkz:
This was part of my intervention some days ago.

Since our elites have turned BTA/PTA into a business, let the incentive be removed.

I applaud the CBN for being bold.

Your mind dey there

5 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by surgical: 7:41pm On Feb 15, 2024

EponObi:
One thing you can't deny is that Yemi Cardoso is a breath of fresh air at the central bank. Calm, smart, strategic, precise, and BOLD!

I remember Ewelele doing gidigbo on national tv with abokiFX when he made that silly "You to fight? Come out and fight" statement or close.

This is Yemi fighting the same battle without noise. Respect a beg! ☺️

Abeg all this na distraction, stop fuel importation and you will save forex and increase the value of naira
The government is not ready yet when they are ready they will do the needful

1 Like 2 Shares

Re: CBN Discontinues Payment Of BTA/PTA In Cash by tfelicityk(m): 7:41pm On Feb 15, 2024

Good thinking...
Let wait for other vices the elites and some lawmakers benefiting from it will want to adopt again.

3 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by 004gist: 7:42pm On Feb 15, 2024

Kobicove:
This should help reduce the rate of round-tripping of dollars by dubious elements!

There is no round tripping of dollars anywhere.
The Government need to be sincere with themselves

Re: CBN Discontinues Payment Of BTA/PTA In Cash by BennyDGreat: 7:42pm On Feb 15, 2024

grandstar:
For the Naira to stop falling, the CBN should increase interest rates above that of inflation. That is global best practice.

Increase interest rates above that of inflation...never heard that before

1 Like

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Coronavirus1: 7:46pm On Feb 15, 2024

Good decision from the CBN.

Re: CBN Discontinues Payment Of BTA/PTA In Cash by nedekid: 7:47pm On Feb 15, 2024

Whalis:
This cash payment breeds corruption.

Who even buys bta again? All these stories are just diversion army. undecided

1 Like 1 Share

Re: CBN Discontinues Payment Of BTA/PTA In Cash by GeneralDae: 7:47pm On Feb 15, 2024

emkz:
This was part of my intervention some days ago.

Since our elites have turned BTA/PTA into a business, let the incentive be removed.

I applaud the CBN for being bold.

You are spot on. Many of our FOREX rules changed with Emiefele and Buhari in 2016. The result after that has not been palatable to me.
If I were the CBN Governor, I would reverse every decision made on the FX market in 2016 and go back to what it was in the time of Jonathan 100%.

7 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by KarlTom: 7:49pm On Feb 15, 2024

People buy it

nedekid:
Who even buys bta again? All these stories are just diversion army.

1 Like

Re: CBN Discontinues Payment Of BTA/PTA In Cash by KarlTom: 7:50pm On Feb 15, 2024

Excellent move!
Cash is not traceable.
I only hope the embargo will be lifted so naira debit cards can be used for foreign transactions

4 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by agriboom: 7:52pm On Feb 15, 2024

How much are they giving now, still 2k or back to 4k?

Re: CBN Discontinues Payment Of BTA/PTA In Cash by DryMouth: 7:52pm On Feb 15, 2024

EponObi:
One thing you can't deny is that Yemi Cardoso is a breath of fresh air at the central bank. Calm, smart, strategic, precise, and BOLD!

I remember Ewelele doing gidigbo on national tv with abokiFX when he made that silly "You to fight? Come out and fight" statement or close.

This is Yemi fighting the same battle without noise. Respect a beg! ☺️

Do you have sense at all?
Cardoso is a failure

3 Likes 3 Shares

Re: CBN Discontinues Payment Of BTA/PTA In Cash by bluefilm: 7:54pm On Feb 15, 2024

Domainer1999:
Make I help our Vaseline crew lord
PTA - Personal Travel Allowance
BTA - Business Travel Allowance

Thank you so much.

Do you need some vaseline business stuff?

2 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by GeneralDae: 7:54pm On Feb 15, 2024

grandstar:
For the Naira to stop falling, the CBN should increase interest rates above that of inflation. That is global best practice.

Re: CBN Discontinues Payment Of BTA/PTA In Cash by Londerry: 7:55pm On Feb 15, 2024

All of these sounds good. Unfortunately it contributes very little to addressing the Forex challenges in our country, putting more pressure on businesses trying to thrive and middle class masses trying their best to make sense out of life by travelling for greener pastures or schooling. The bulk of dollar exchange happening in this country is circulating among politicians and elites in top positions who will always have their ways to access dollars for their gains. These guys are sitting on the board of banks and other treasury /financial houses. Until CBN policies directly affect them, all is a joke. Bribery to top officials is in dollars🤐

2 Likes

Re: CBN Discontinues Payment Of BTA/PTA In Cash by BigDawsNet: 7:56pm On Feb 15, 2024

bluefilm:
What is BTA and PTA?

Buisness travel Allowance
Personal travel Allowance

You get paid in Foreign currencies of the country you travelling to, provided you have a Visa

Re: CBN Discontinues Payment Of BTA/PTA In Cash by DryMouth: 7:57pm On Feb 15, 2024

nedekid:
Who even buys bta again? All these stories are just diversion army.

You are wise..
People in this forum are so daft and ignorant.

PTA and BTA transactions have been stopped since mid last year.

I just dey shake head as i dey read all these ignorant people comments

6 Likes 3 Shares

Re: CBN Discontinues Payment Of BTA/PTA In Cash by badoh(m): 7:58pm On Feb 15, 2024

gaby:
This will also be reversed in a month.

Confused lots.

Electronic card payments that are unreliable locally...lol

We dey wait for the wailings and complaints.

Okoso Cardoso representing blind BATimeous.

If you can do better than him, nominate yourself.

1 Like

Re: CBN Discontinues Payment Of BTA/PTA In Cash by nedekid: 7:59pm On Feb 15, 2024

Jogs1900:
This is very good development. ...

Some travellers traveling with their children will collect more than what they need as PTA even on their children ( ,probably underaged)travelling document because it's subsidized and immediately sell it to BDC.

Story.
Since January 2023, no one has bothered to buy bta. So who gets it in cash? Certainly not you or me, not to talk of whole families as you claim. You cannot even buy if you are below 18 in the first instance.
Back then, accepted some banks gave bta in cash eg acess bank, but gt bank will always pay into your mastercard. Eg on $2k if you require cash they will only give you $200, the rest will go to your card which you cannot transfer to another gt account but can only spend abroad. You cannot even withdraw the money from your dom account assuming you did not spend it all.
Anyway, the only people that may currently use bta are government officials. So the topic should be government bans civil servants from bta in cash.
Why will you apply for bta when official rate is thesame with blackmarket, you then pay charges to the bank?

1 Like 3 Shares

Re: CBN Discontinues Payment Of BTA/PTA In Cash by badoh(m): 8:00pm On Feb 15, 2024

forgiveness:
This is a masterstroke. Long overdue. Kudos.

If you want to travel and you need foreign currency, it must not be in cash. Let the bank pay into your account then you can use your credit cards to pay abroad.

Anyone who deliberately try to withdraw the money in cash in Nigeria must be arrested and arraigned to court.

CBN should also ensure that you can't withdraw the Forex on local channels except when you get to your destination country.

2 Likes

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