UBA publishes names, BVN and account numbers of forex defaulters – Nairametrics
The United Bank of Africa has released the names, Bank Verification Numbers (BVNs) and account numbers of some customers suspected of violating the Central Bank of Nigeria’s foreign exchange policy.
This development comes after the CBN ordered banks to expose customers who engage in fraudulent and unscrupulous tactics to obtain foreign currency from banks.
UBA revealed this in a post on its website titled “Defaulting CBN FX” Friday.
What UBA said in its statement
The bank said, âIn accordance with the Central Bank of Nigeria directive requiring banks to publish the names of foreign exchange regulatory defaults.
âBased on regulatory guidelines, the following customers canceled their trip and did not return the PTA they had despite several follow-up letters, texts and phone calls. “
The bank also included the name of a customer who it said “Presented a fake visa to apply for a PTA”.
What you should know
- Nairametrics had reported that some depository banks acting on the Central Bank of Nigeria (CBN) directive sent notices to their customers warning them that the identities and Bank Verification Number (BVN) of those who violate the new policy of the umbrella bank’s foreign exchange and business trips will be published.
- In their opinions, the banks also highlighted the consequences for customers who engage in fraudulent and unethical practices in relation to the purchase of personal travel allowances (PTAs) and travel allowances. ‘business (BTA).
- Banks have warned that defaults of the new exchange rate policy face fines, including banning access to currencies on the official foreign exchange market, restrictions on bank accounts as established by the CBN and criminal prosecution.
- The CBN had also ordered travelers who buy foreign currency from banks for travel purposes but who do not embark on the trip after 2 weeks of their scheduled travel date must return the forex to the banks.
- CBN Governor Godwin Emefiele at the Monetary Policy Council meeting on Friday, September 17, 2021, warned that the umbrella bank would drive out Nigerians who buy forex for personal travel and cancel later these trips.