CBN directs bank to sell dollar at N197 to pilgrims
- Calls for proposal for External Auditors
The Central Bank of Nigeria (CBN) has directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance (PTA) to intending pilgrims at a concessionary exchange rate of N197 to $1.
This was contained in a circular on Thursday marked TED/FEMFPC/GEN/01/005. According to CBN, “Each pilgrim is entitled to purchase a minimum of $750.00 and maximum of US$1,000.00 as PTA.
“The Federal Government has approved that intending pilgrims are to be sold the PTA at a concessionary exchange rate of N197.00 to the US dollar.
“No commission shall be charged by the banks for the sale of the PTA to the intending pilgrims.
“The Central Bank of Nigeria shall sale the PTA to the designated banks in Lagos and Abuja and the accounts of the respective banks shall be debited as soon as the funds are disbursed”.
The Naira dipped to N400 to $1 yesterday at the parallel market as against N390 it exchange on Wednesday at the parallel market.
After closing at around N378 against the dollar for most part of last week, the naira dropped to 380 on Friday before falling to 382 on Monday. The currency closed at 315.06 to the dollar at the interbank market on Thursday.
In a related development, CBN has called for competitive proposals from short-listed External Auditors to replace a firm of External Auditors which it said has completed the maximum length of engagement period to work with another firm as joint Auditors with effect from 2016 financial year.
The apex bank in the circular CBN/FND/RFP/AUDITORS/2016/001 on its website on Thursday explained that the scope of this engagement is the standard in line with the International Auditing Standard.
“Interested and competent Vendors wishing to provide the above service to CBN must submit the following documents for verification: Evidence of the Firm’s registration with the Corporate Affairs Commission (CAC); Evidence of the Firm’s registration with the Office of the Auditor General for the Federation in 2015; The Firm’s profile, including professional qualifications of the key staff, past experience with respect to similar jobs which have been successfully handled, etc.; List of clients; Evidence of financial capability (Bank reference); Audited accounts of the Firm for the last three years; Evidence of VAT registration and valid tax clearance certificates for the last three years and Evidence of compliance with the provisions of the Pension Reform Act of 2004”.
In addition to this, CBN said the details of specific requirement shall be contained in the letter of engagement for the successful bidder
“Interested Service Providers who possess the above minimum requirements may collect the bidding documents on the payment of a non-refundable fee of N20,000.00 (Bank Draft in favour of Central Bank of Nigeria) from: The Secretary, Major Contracts Tenders Committee at CBN Head Office in Abuja.
“The submission shall be in two separate envelopes as follows; The general requirements should be submitted in a wax sealed envelope boldly marked at the top left corner: Prequalification and Technical Proposal for the “ENGAGEMENT OF EXTERNAL AUDITORS FOR CENTRAL BANK OF NIGERIA (CBN)”
“The Financial Proposal should be submitted in a second, wax sealed envelope boldly marked at the top left corner: Financial Proposal for the “ENGAGEMENT OF EXTERNAL AUDITORS FOR CENTRAL BANK OF NIGERIA (CBN)”And addressed to: The Secretary, Major Contracts Tenders Committee
“All submissions must be received at the above address not later than 12:00 noon on September 20, 2016. All submissions will be opened after close of submission of the bid by 2:00pm on September 20, 2016 at the 2nd Floor Wing D Conference Room, Procurement & Support Services Department, Central Bank of Nigeria Head Office, Abuja”.
The apex bank affirmed that nothing in the advert shall be construed to be a commitment on the part of the CBN and that the successful company (s) will be notified formally, published and posted on the CBN website (www.cbn.gov.ng) and notice boards in CBN locations. The notice explained.
CBN directs bank to sell dollar at N197 to pilgrims https://t.co/sj5Duapime
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