The Federal Government has approved $11 million personal travelling allowance at a subsidized exchange rate of N160 per dollar for 13,800 persons participating in this year’s Christian pilgrimage.
This was disclosed by the Central Bank of Nigeria, CBN, yesterday, in a circular entitled Year 2015 Christian Pilgrima-ge: Purchase of Pilgrims Travelling Allowance.
The circular was signed by Mrs. O. L. Ahuchogu on behalf of the Director, Trade and Exchange Department, CBN.
It said: “The Federal Government has approved the purchase of a maximum of $1000 at concessionary rate of N160 to the dollar by each intending pilgrim as personal travel allowance.
“Consequently each pilgrim travelling to Israel is entitled to maximum of $750, while those going to Israel/Rome or Greece are entitled to a maximum of $1000.”