Nigeria’s Central Bank Allows 25% PTA, BTA Cash Payouts From June 1
Updated
Updated · msmeafricaonline.com · May 11
Nigeria’s Central Bank Allows 25% PTA, BTA Cash Payouts From June 1
2 articles · Updated · msmeafricaonline.com · May 11
June 1 marks a partial rollback of Nigeria’s 2024 travel-allowance FX rules, with the central bank now permitting 25% of PTA and BTA disbursements in cash and 75% electronically.
The CBN said the change aligns travel-allowance payments with updated Bureau De Change guidelines and is meant to ease operational bottlenecks for authorised dealers and other FX market participants.
The new 4th-edition FX Manual also raises allowable import advance payments to 30% from 15%, removes Form A for domiciliary remittances and grants export-proceeds and ordinary domiciliary account holders unrestricted access to funds.
Other revisions include free Form NXP processing, new rules for service exports, PAPSS and non-resident investment accounts, plus tuition payments of up to $25,000 per semester abroad.
Governor Olayemi Cardoso said the manual, replacing the 2018 version, is intended to improve FX-market transparency, strengthen Nigeria’s macroeconomic framework and support investor confidence while retaining compliance monitoring.
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Nigeria’s 2026 FX Policy Overhaul: CBN Allows 25% Cash for PTA/BTA, Expands Import Advance Payments, and Eases Tuition Remittances
Overview
The Central Bank of Nigeria (CBN) will implement the 4th Edition of its Foreign Exchange (FX) Manual from June 1, 2026, introducing key changes to streamline FX transactions and enhance market efficiency. Notably, the allowable advance payments for imports will rise from 15% to 30%, giving importers more flexibility and supporting international trade. The manual also includes free processing of Form NXP for non-oil exports and new guidelines for service exports. These reforms aim to make foreign exchange processes smoother, improve access to foreign currency, and foster a more transparent and efficient market environment.