The Central Bank of Nigeria has ordered banks to publish names and BVN numbers of customers who present fake travelling 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.
A letter from the apex bank to all banks, signed by Haruna Mustafa, CBN’s Director, Banking Supervision Department, dated August 30, 2021 read: “the CBN has received and noted with concern reports of sharp practices by unscrupulous customers to circumvent the new CBN policy on the sale of FOREX for overseas personal and business travels.
“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 FOREX market.”
It then advised banks to be guided appropriately.