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Friday, September 24, 2021

Forex Ban: See directive wey CBN give banks dem on FX

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Di Central Bank of Nigeria don yarn all commercial banks to publish names and Bank Verification Numbers (BVN) of customers wey do fraud to get foreign exchange.

Dem tok dis one for circular wey dem released on Tuesday, 31st August, 2021.

If you use fake visa and cancellation of air tickets, na una CBN dey talk about.

This na because e get ‘Personal Travel Allowance and Business Travel Allowance’ wey bank dey give who wan travel go obodo oyibo.

Di bank yarn say dem do am to reduce di bad character of some bad customers wey dey try disobey di new forex policy.


See wetin di full circular tak;

“Di CBN don receive reports of di bad practices wey some customers dey do.

“Dem wan disobey di new CBN law wey consine di sale of forex for overseas personal and business travel.

“Some of these bad practices na di use of fake visas and cancellation of air tickets afta dem buy PTA/BTA.

“If we no stop am now, en fit cause wahala for di integrity and stability of di forex market.

“To add to wetin we don already dey do, all banks go post on dem websites, di names and BVN of defaulting customers wey present fake travel documents or cancel dem tickets and no gree return di PTA/BTA wey dem buy in two weeks as di customer declaration form wey dem sign tok.”

We go still dey put eye for di tori.

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