Christian pilgrims to Israel, Rome or Greece will get foreign exchange (forex) from the banks at N146 to a dollar, a Central Bank of Nigeria (CBN) circular issued yesterday to all authorised dealers said.

Eleven banks were enlisted by the CBN to sell forex to the pilgrims. The banks include Union Bank, Zenith Bank, United Bank for Africa, Fidelity Bank and First City Monument Bank.

Others are Unity Bank, FirstBank, Ecobank, Sterling Bank, Skye Bank and Keystone Bank.

CBN Director, Trade and Exchange, Musa Batari, who endorsed the circular, advised the banks to always comply with the sales conditions to avoid sanctions.

The regulator had in a previous circular of October 14, pegged maximum Personal Travelling Allowance (PTA) sale to intending pilgrims at $1,000 at a concessionary rate of N146 to a dollar.

"The Federal Government has approved the purchase of a maximum of $1,000 at a concessionary rate of N146 to a dollar by each intending pilgrim as Personal Traveling Allowance (PTA). 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 $1,000," the CBN said.

The apex bank also said no commission shall be charged by banks for the sale of the PTA between the approved $750 to $1,000.

According to the CBN, the funds of the respective banks shall be debited as soon as the funds are disbursed. Each of the designated banks is required to sell to the CBN, the unutilsed PTA.

Also, the CBN said no pilgrim should be denied the travel allowance for not having tax clearance certificate. The circular also stated that the Chairman or Secretary of each of the participating state Pilgrims' Board, after due identification, may be allowed to sign for and collect on behalf of the intending pilgrim in his/her state.

States participating in this year's pilgrimage are Akwa Ibom, Federal Capital Territory (FCT), Gombe, Kwara, Niger, Ondo, Osun, Taraba, Niger, Edo, Ebonyi, Lagos among others