GTB sets up forex teller points, vows to treat requests instantly, lists requirements
Guaranty Trust Bank Limited announced on Saturday that it had set up foreign exchange teller points for customers following the directive of the Central Bank of Nigeria.
The CBN Governor, Mr Godwin Emefiele, had on Tuesday, at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to the Bureaux de Change, saying they had turned themselves into “agents that facilitate graft and corrupt activities of people who seek illicit fund flow and money laundering in Nigeria”.
He said the CBN would channel a significant portion of its weekly allocation currently meant for BDCs to commercial banks to meet legitimate forex demand for ordinary Nigerians and businesses.
GTB, in an email to its customers, said, “Further to the recent directive by the Central Bank of Nigeria on the sale of foreign exchange to all bank customers, this is to inform you that we have set up dedicated teller points at all our branches nationwide for your eligible foreign exchange needs.
“Kindly walk into any of our branches nationwide to buy your Personal Travel Allowance, Business Travel Allowance, pay your international school fees, foreign medical bills, SME Form Q transactions and every other qualifying foreign exchange transaction.
“We will treat your foreign exchange requests instantly. This means that you will get your FX the same day in cash and in the case of school fees and medical bills payment, to the stipulated beneficiary offshore. Please note that this is subject to you providing all the required documentation for these transactions.”
On the requirements for applying for PTA/BTA, the bank said applicants should be 18 years and above, with a valid Bank Verification Number; and have a valid Nigerian passport with a valid visa, and valid international return ticket with a travel date not more than 14 days from the date of PTA/BTA purchase.
It said applicants must have a return ticket originating from Nigeria, with a minimum travel time of five hours to your destination.
According to the bank, PTA request is limited to a maximum of $4,000 per quarter per applicant.
GTB said for international school fees payment, students could apply themselves, or through their parents and guardians with valid BVN.
“Admission letter, payment invoice, First degree certificate (only for post-graduate studies) and a duly completed Form A are required for school fees,” it added.
