Banks to digitise Forex sales, facilitate work on National Theatre

Mr Segun Agbaje, Group Managing Director of Guarantee Trust Bank, has said foreign exchange for Personal Travel Allowance (PTA) among others, would now be sold online.

Agbaje said this at a media briefing at the end of the Bankers’ Committee meeting on Thursday in Lagos.

The committee discussed the state of economy, Foreign Exchange (FX) policies and stoppage of FX to the Bureaux De Change Operators.

The committee also discussed the ongoing rehabilitation of the National Arts Theatre, aimed at repositioning Nigeria on the global tourism map.

“I hope that many of you will see that the new Foreign Exchange policy with regards to Invisibles, Personal Travel Allowance (PTA), Basic Travel Allowance (BTA), tuition fees, and medical payments, is working very well.

“We have taken it upon ourselves along with the regulator to make sure that this works; and this is just the first phase and if you noticed most of the things you are doing today, you are going into the branches to do most things.

“But, we are going to also try to digitise this whole thing the way the world is going; and that is being done by Nigeria Inter-Bank Settlement System Plc (NIBSS) where you will be able to buy online,” Agbaje said.

According to him, the NIBSS already has a portal, through which banks share information on the application process.


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