The New Central Bank Policy on Personal Travel allowance and School fees

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There are certain guide lines stipulated by the central bank of Nigeria for purchase of PT and school fees remittance. The school fees remittance is for studies outside Nigeria. To access the facilities you need to approach any commercial bank in Nigeria. In line with the central banks guidelines theses are the following conditions.
Central Bank Policy on Personal Travel allowance and School fees
School Fess
The fees remittance shall be made directly to the beneficiaries in this case the school account. The purchase application shall not exceed $15, 000 USD. The amount is applicable per term or semester.
The applicant seeking the facility must be a guardian or parent of the student. They must operate an active account in the bank of choice and have a bank verification number (BVN).
  • Remittance made directly to school account
  • Purchase application not exceed 15, 000 USD
  • The amount is applicable per term or semester
  • The applicant must be a guardian or parent of the student
  • They must operate an active account in the bank
  • The must have a bank verification number BVN.
Nigerian Airways
Documents to Present
The following documents should accompany the application. A duly complete form A and admission letter from the school or an invoice from the school.
  •  A duly complete form A
  • Admission letter from the school
  • An invoice from the school.
Personal Travel Allowance
To obtain your personal travel allowance the applicant must be 18 years and above. The applicants most possess a Nigerian international Passport. Other requirements are active bank account including a bank verification number.
The travel flight must originate from Nigeria and flight hours not less than 5 hours. The amount of PTA is capped at $4000 USD per quarter. And the person must apply minimum 14 days before departure.

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