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The Bankers’ Committee rose from its meeting Tuesday with a
consensus that commercial banks in the country should henceforth desist
from charging customers commissions on retail foreign exchange (forex)
transactions, ThisDay reports.
Retail forex transactions include the purchase of dollars for
personal travel allowance (PTA), business travel allowance (BTA), school
fees and medicals.
The chief executive of the FSDH Merchant Bank Limited, Mrs. Hamda
Ambah, disclosed this while briefing the media at the end of the meeting
in Lagos.