What is BDC license?
1.4 A BDC shall be construed as any company that is licenced to carry on small scale foreign exchange business in Nigeria and whose sole object is the carrying on of such business on a stand-alone basis. 2.0 APPLICATION FOR LICENCE.
What is BDC license in Nigeria?
“BDCs are licensed to provide retail FX services, including buying from the public and also selling to end-users for allowable transactions namely Personal Travel Allowance (PTA), Business Travel Allowance (BTA), payment of medical and school fees,” Gwadabe was quoted.
How much is BDC Licence in Nigeria?
Every BDC licence shall expire on 31st December of each year and shall, be renewed within the first quarter of the subsequent year at a non-refundable fee of N10,000.00 [Ten thousand Naira only] or at such a fee as may be stipulated by the Bank from time to time, subject to its operations being satisfactory to the Bank …
What is BTA mean in flight?
“Beware of anyone who requests funds for a BTA, or Basic Travel Allowance, as a requirement to depart another country for the United States. There is no such thing as a BTA. In other cases, your Internet friend will claim to need a travel allowance, or travel money, to be able to travel to the United States.
How can I get BDC in Nigeria?
Application and Registration Procedure
- N10m mandatory application money to CBN (refundable on approval).
- N10,000 Application/processing fee.
- After Interim Approval you have to incorporate your company with CAC with a share capital of N10m.
How do I open a BDC account?
FINANCIAL REQUIREMENTS FOR SETTING UP A BDC A non-refundable licensing fee of N1 Million. A Mandatory caution deposit of N35 Million. Registration cost of N35 Million share capital company with CAC (fee can be negotiated with a CAC Agent) A non-refundable change of name fee of N150,000 (where applicable)
What is the full form of BTA?
BTA – Business Travel Allowance.
How old do you have to be to get BTA from Nigeria?
Criteria of BTA from Nigeria The applicant must be at least 18 years of age. He/she must have a valid Nigerian passport. Proof of a legit Bank account. Your journey should last more than 5 hours. Your flight must depart from Nigeria. Travel must occur within 14 days from the date of request for BTA.
When does the WAEC GCE form come out?
WAEC GCE form is out. Authorities of the West African Examinations Council (WAEC) have announced that registration for the 2021 West African Senior School Certificate Examination (WASSCE) for Private Candidates, First Series (January/February), began on Monday, December 21, 2020.
Is there limit on Naira for PTA and BTA?
Due to the existing limit on the use of funds with Naira Debit and Credit Cards (MasterCard and Visa) from 40 000 to 150 000 USD per year with a monthly return to CBN, customers wishing to access PTA / BTA should not have a Naira Debit / Credit (MasterCard and VISA).
What’s the maximum amount you can get for BTA?
The maximum amount of compensation per quarter for BTA is $ 5,000. This is a prepaid Visa card. The funds can be transferred to a Domiciliary account for customers to get additional currency. You get 1% of the income from each transaction. The requirements for getting BTA.