HOW TO APPLY FOR PERSONAL TRAVEL ALLOWANCE 

In 2014, I took my first trip out of Nigeria and paid the sum of 145,000 Naira for flight and a total of $300 for Hotel accommodation and I paid for this with my Naira Card at the exchange rate of  $/165.

Today, that same flight cost 876,000 and the FX rate is at $/780 (Parallel market) and $/447 (CBN rate). This has made it difficult for people who live and earn in our local currency to be able to cater to their travel needs conveniently. 

PTA/BTA is CBN’s way of bridging this outrageous gap and making life somewhat easy. 

What is PTA/BTA?

Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) are currency exchange schemes specifically set up for Nigerians traveling abroad for personal or business reasons. The purpose of the program is to try to level the huge gap between the Central bank of Nigeria (CBN) rate and the Black Market rate for Nigerians traveling abroad. 

So basically, the CBN sets aside and specifically allocates FX to the Bureau De Change and Commercial Banks, to be used for this reason only. There are a few rules and requirements set by CBN to ensure that the funds are given ONLY to Nigerians traveling abroad. 

  • The PTA and BTA are available to only Nigerians.

  • The applicant must be 18 years and above

  • The destination country must be at least 5 hrs+ away by air.

  • You must have a valid return ticket

  • The flight ticket must originate from Nigeria.

  • Travel date must be within the next 2 weeks.

  • The limit for PTA is $4,000 per quarter (90 days).

  • The limit for BTA is $5,000 per quarter (90 days).

  • Not to be sold to travelers visiting blacklisted countries.

  • Where the applicant did not travel, PTA/BTA bought must be returned to the bank by the within 2 weeks of purchase

  • When tickets scheduled date is changed, the applicant is required to update that information with the bank as well

*** This is an unusual shortage of FX so the processing time is now between 4-6 weeks.

How to Apply 

  • Log into

    https://www.tradesystem.gov.ng/landing/index.html

  • Scroll down and click on applicant portal 

  • Register as an individual with your BVN or TIN (if you’re applying for BTA)

  • OTP will be sent to your registered email.

  • Verify your email

  • Login and fill the necessary fields

  • Upload your data page, visa page, and flight ticket only (Upload your letter of invitation if you are applying for BTA)

  • Choose your preferred bank and branch

  • Submit

  • Make sure your account is funded with the Naira equivalent of the amount you are applying for.

  • You will get an email when your application has been approved. Go to the chosen bank branch with your original international passport to collect the cash (most banks don’t give cash but a prepaid dollar card loaded with the approved amount).

Voila! You’re good to go.

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