Banks have informed their clients that the identities of defaulters who violate the Central Bank of Nigeria’s Foreign Exchange regulation will be disclosed.
According to reports, the CBN recently mandated all commercial banks to disclose on their websites the names and BVNs of customers who participate in fraudulent and unethical acts to get foreign exchange from banks.
Consequently, 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; this further to the other measures already put in place,
Customers of First Bank and United Bank for Africa have been informed of the CBN policy’s implementation.
Defaulting customers who present fraudulent travel credentials or cancel their tickets and fail to refund the purchased PTA and BTA within two weeks, as stated in the signed customer declaration form, will have their identities and bank verification numbers published.
“We aim to implement this policy immediately as an organisation that is fully compliant with the Central Bank of Nigeria’s rules and regulations. Our bank is committed to partnering with the CBN to ensure a transparent, efficient and stable FX Market that meets the needs of all legitimate users”.
UBA also urged its customers to follow all CBN standards to the letter.
“In line with our promise to keep you up to date on policies that may affect you,” the bank wrote in an e-mail, “please note that the CBN has directed all banks to publish a list of PTA/BTA defaulters on their websites”.
“Customers involved in fraudulent practices such as presenting fake visas or cancelling airline tickets after receiving PTA/BTA and failing to return the funds received to the bank within two weeks will have their details published (name and BVN) on our website”.