The Central Financial institution of Nigeria has directed all industrial banks to publish on their web sites the names and Financial institution Verification Numbers of consumers who have interaction in fraudulent and unscrupulous practices to acquire overseas alternate from banks.
In a round issued by the on Tuesday, the financial institution outlined the fraudulent practices to incorporate using faux visas and cancellation of air tickets after buy of Private Journey Allowance and Enterprise Journey Allowance
The financial institution stated the brand new directive was given to curb the unwholesome conduct of some unscrupulous clients who’re attempting to avoid its new foreign exchange coverage.
The round which was addressed to all banks was titled, “Publication of names of Defaulters of a CBN coverage on sale of Foreign exchange for PTA/BTA” and signed by the financial institution’s Director, Banking Supervision Division, Haruna Mustafa.
The round learn in full, “ The CBN has obtained and famous with concern studies of sharp practices by some unscrupulous clients to avoid the brand new CBN coverage on the sale of foreign exchange for abroad private and enterprise journey.
“A few of these unwholesome practices embody using faux visas and cancellation of air tickets after buy of PTA/BTA. This development, if not curbed, portends threat to the integrity and stability of the foreign exchange market.
“Consequently, additional to the varied measures already put in place, all banks are hereby directed to publish on their web sites the names and BVN of defaulting clients who current faux journey paperwork or cancel their tickets and fail to return the bought PTA/BTA inside two (weeks) as stipulated within the buyer declaration kind signed by them.”