Zabira Banner Header

CBN Gives Banks Directive To Publish Names, BVN Of Forex Defaulters

CBN

The has directed all commercial banks to publish on their websites the names and Bank Verification Numbers of customers who engage in fraudulent and unscrupulous practices to obtain foreign exchange from banks.

In a circular issued by the on Tuesday, the bank outlined the fraudulent practices to include the use of fake visas and cancellation of air tickets after purchase of Personal Travel Allowance and Business Travel Allowance

ALSO SEE  EFCC Drops N20bn Bailout Case Against Kogi State

The bank said the new directive was given to curb the unwholesome conduct of some unscrupulous customers who are trying to circumvent its new policy.

The circular which was addressed to all banks was titled, “Publication of names of Defaulters of a CBN policy on sale of for PTA/BTA” and signed by the bank’s Director, Banking Supervision Department, Haruna Mustafa.

ALSO SEE  Why We Can’t Prosecute Obi Cubana For Abuse Of Naira – CBN

The circular read in full;

“ The CBN has received and noted with concern reports of sharp practises by some unscrupulous customers to circumvent the new CBN policy on the sale of 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 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.”

Join our Telegram Group

Follow talkGlitz on Instagram TalkGlitz on Twitter
Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy