PTA means Personal Travel Allowance. People traveling out of the country need hard currency. While hard currency can easily be obtained at the black market, the government offers it for sale to travelers at a more competitive rate.
In essence, PTA is hard currency sold to Nigerians traveling out of the country at a subsidized rate.
Personal Travel Allowance : CBN Guidelines on how to access forex for PTA
Some vital changes have occurred in the process of obtaining PTA in Nigeria. The Central Bank of Nigeria (CBN) on Tuesday, 21st February 2017, gave new guidelines to access Forex for Personal Travel Allowance. The CBN also stated that the sale of forex for PTA would be done every Tuesday.
In order to obtain Personal Travel Allowance (PTA), the following conditions below must be met:
- Applicants shall be eighteen (18) years of age and above. Children and minors (unaccompanied or not) cannot apply for PTA.
- Applicants/beneficiaries shall be holders of Nigerian Passports. Any one who does not have a Nigerian passport is ineligible to receive PTA.
- Applicants shall be account holders in the chosen Nigerian bank.PTA can only be obtained inside the bank where the applicant already has an account.
- PTA shall only apply to journeys of not less than five (5) hours flight time. In order words, travelers to nearby countries like Ghana in West Africa are ineligible.
- The flight must originate from Nigeria. Travelers with return tickets that do not originate from Nigeria are ineligible.
- Travelers are required to apply for PTA from 14 days to the date of travel.You can apply anytime, but not more than 14 days to travel date.
- Applicants shall be entitled to a maximum of $4,000.00 per quarter or its equivalent in Euros and Pounds, subject to availability.
- Applicants shall present verifiable Bank Verification Number (BVNs) to their bankers.
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