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Dollar at N197 not Only for Muslim Pilgrims - Says CBN Governor, Emefiele

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has reacted to reports that the bank granted concessionary foreign exchange rate for prospective 2016 hajj pilgrims. 

CBN Governor, Godwin Emefiele
According to Emefiele there was no preferential exchange rate of any sort to intending pilgrims.

“What is obtainable is that every year, prior to the commencement of the pilgrimage, the commission, both Christian and Muslims, approach the CBN to agree on the exchange rate for the personal travel allowance (PTA) for that particular year.

“In this case it’s between 750 dollars and 1,000 dollars per pilgrim,” he said.

He said the agreement to sell foreign exchange to the pilgrims at the rate of N197 to the dollar was reached since April 2016 at the prevailing rate then.

He added that the agreement was applicable to both intending Christian and Muslim pilgrims.


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