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FG Didn’t Subsidize FX For Pilgrims – Emefiele

Godwin-Emefiele-CBN-GovernorThe Central Bank of Nigeria, Godwin Emefiele says the Federal government didn’t give foreign exchange subsidy for 2016 pilgrims.
Emefiele addressing the press on Tuesday in Abuja said the agreement between the CBN and the pilgrim to sell dollar at 197 naira was reached long ago before the latest adjustments.

“Each pilgrim is entitled to purchase a minimum of $750 and maximum of $1,000 as PTA.

“The Federal Government has approved that intending pilgrims are to be sold the PTA at a concessionary exchange rate of 197 Naira to the US dollar.

“No commission shall be charged by the banks for the sale of the PTA to the intending pilgrims,” the statement read.

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