The game seems to be up for those using unscrupulous means to obtain foreign exchange from banks.
The fraudulent practices include the use of fake visas and cancellation of air tickets after purchase of Personal Travel Allowance and Business Travel Allowance.
Consequnetly, commercial banks are to publish names and Bank Verification. Numbers of customers who indulge in such act, the Central Bank of Nigeria (CBN) directed.
CBN on Tuesday said directive was to curb the unwholesome conduct of some unscrupulous customers who are trying to circumvent its new forex policy.
The circular which was signed by the bank’s Director, Banking Supervision Department, Haruna Mustafa and addressed to all banks was titled, “Publication of names of Defaulters of a CBN policy on sale of Forex for PTA/BTA”.
The circular read in full, “ The CBN has received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel.
“Some of these unwholesome practices include the use of fake visas and cancellation of air tickets after purchase of PTA/BTA. This trend, if not curbed, portends risk to the integrity and stability of the forex market.
“Consequently, further to the various measures already put in place, all banks are hereby directed to publish on their websites the names and BVN of defaulting customers who present fake travel documents or cancel their tickets and fail to return the purchased PTA/BTA within two (weeks) as stipulated in the customer declaration form signed by them.”
