1. Naira Exchange Rate
  2. Finance Blog
  3. BTA meaning and BTA Fees
  4. BTA meaning and BTA Fees

BTA meaning and BTA Fees

Submitted bydoncheks onMon, 04/23/2018 - 11:52
BTA Fees

BTA

BTA stands for Business Travel Allowance. BTA is for business travel only and is set at a maximum of $5,000

Meaning of BTA

BTA means Business Travel Allowance. BTA provides a cheaper avenue for assessing foreign exchange for travelers in Nigeria.>

Everyone traveling abroad needs hard currency. Hard currency can be obtained in the black market but at a high rate.See black market rates here.

The government curtails this by providing hard currency through the banks at a lower exchange rate. BTA applicants can receive up to 5000 US dollars, four times in a year.

BTA Fees

There is no such thing as BTA Fees.The banks do not charge the customers any fee for processing a BTA Application. The term bta fee is synonymous with romance scams. A traveler is not mandated by the government to purchase BTA. A traveler can decide not to purchase BTA. Also, a traveler can obtain any amount under 5,000 usd.

Requirements for BTA

BTA is pegged at 5,000 usd a quarter. You will need the following to apply for BTA.

  1. A valid passport
  2. A visa
  3. A valid ticket
  4. Naira equivalent at the current CBN rates.See CBN Rates.
  5. Certificate of Incorporation
  6. Proof of business.E.g letter of invitation.

Procedure for Obtaining BTA

The information below further contains the new process as seen from commercial banks:

  1. A customer, holding an account in a respective bank, requests for BTA at that bank branch
  2. Provide all necessary document
    • Valid International passport,
    • Visa and return ticket,
    • Letter of Request from Corporate body stating purpose of visit,
    • Certificate of business registration.
  3. Provide a written application
  4. Customer fills out BTA form
  5. Uploads BTA form, Irrevocable bid form, valid visa, ticket, bio data page of International passport, Certificate of Incorporation, Instruction to buy BTA on letter head to global trade (a document that shows that your company nominated you to represent them).
  6. Branch opens a CASA account for customer. Account code will be advised
  7. Trade Standard Invisibles prints documents from portal
  8. Trade Standard Invisibles checks documents and if in order, advises branch to proceed otherwise rejects
  9. If documents in order, branch debits customer’s naira account and credits the CASA account opened for the customer, endorses passport, pays customer and sends endorsement page to Trade Standard Invisible team
  10. Dr. Customer naira account
  11. Cr. Customer CASA naira account
  12. Branch disburses to customer
  13. If documents not in order, branch advises customer to provide correct and valid document
  14. Trade Standard Invisibles debits the CASA account and FX sales is done on Kastle
  15. Trade Standard Invisibles settles on Kastle and credits the branch’s GL with dollars/pounds

Note: Please confirm your dollars from the bank before getting to the airport to avoid delay. Also, the bank will buy back remaining forex if not completely used by the customer for his/her purpose of visit. For instance, if an applicant uses 3000 dollars from 4000 dollars disbursed to his/her account. The bank may likely buy it back in order to reduce forex sales outside Bureau de Change.

Tags
bta

Comments

Submitted by Commander Drogues (not verified) on Tue, 04/30/2024 - 21:12

Permalink

Commander viagra en ligne, pharmacie viagra sans ordonnance. Viagra sans ordonnance, achat viagra pfizer, Verlagderautoren. Levitra en ligne, levitra meilleur prix, Salamanca Pharmacie. Commande de cialis, cialis en ligne, Tecsidel Magasin en ligne de. Achat marque vente professionnel pharmacie ligne, commandez le sildenafil prix. https://acheterbonmarche.com/contrave/ - Contrave Achat Viagra en ligne, prix de viagra, Undispatch Pharmacie canadienne. Canada, en ligne sildenafil obtenez sans pharmacie, LInde, le prix achat en. Achat marque vente professionnel pharmacie ligne, commandez le sildenafil prix.

Submitted by Commander Drogues (not verified) on Tue, 04/30/2024 - 23:15

Permalink

Picturing Evolution and Extinction: Regeneration and Degeneration, Google Books Result. Generique yasmin pharmacie en ligne en france achat, Cofemer. Viagra au rabais, viagra en ligne suisse, Bdcentral Magasin de. Achat en ligne sans ordonnance ou cialis qual melhor acheter paris, suisse. Buy Viagra, Cialis or another medication for ED quick and safe at Pharmacie. Du Canada pilule viagra, acheter sans ordonnance.Escompte Inde, viagra prix. Generique yasmin pharmacie en ligne en france achat.Yasmin comprime. https://globalwebpharmacy.com/prestole/ - Prestole Bon Marche Ordonnance en ligne vente du escompte de, pharmacie suisse prescription. Viagra avec une remise, viagra generique en ligne, Maseno. Pharmacie En Ligne Vente De Cialis.Magasin en ligne de drogue, Les meilleurs.

Add new comment

About text formats