- Ten Nigerian banks have released the identities of customers who have committed forex offenses in accordance with CBN instructions
- In a circular issued recently, the CBN outlined the fraudulent practices to include the use of fake visas and cancellation of air tickets for the purchase of forex
- CBN had instructed banks to publish names of individuals who engage in such and ensure they are barred from accessing forex in the future
10 Nigerian banks have published the names of 1,042 customers who fraudulently bought foreign currencies in the last three months.
This isn't the first time the CBN has used a name-and-shame tactic; in the past, loan defaulters' names have also been released.
According to ThisDay report, Zenith bank, followed by Sterling Bank and Access Bank recorded most forex defaulting customers.
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How the customers tricked the bank's staff
Polaris Bank on its website noted that the 54 customers canceled their trip and failed to refund the Personal Travel Allowance (PTA) sold to them despite follow-ups with them
Sterling Bank also revealed that its customers canceled their trip but failed to return the PTA availed to them despite reaching out to them with phone calls and messages .
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The Bank also showed that six of its customers presented fake visas or documents to apply for PTA.
Sterling note on its website reads:
“In compliance with the directive of Central Bank of Nigeria mandating banks to publish the names of defaulters of the FX regulation. Based on regulatory directives, the following customers canceled their trip and failed to return the PTA availed to them despite several mails, text messages and follow-up phone calls. The customer(s) below presented fake visa to apply for PTA.”
CBN lament as fake eNaira Twitter account deceives Nigerians with N50billion giveaway after Pres Buhari launch
Meanwhile, Legit.ng had earlier reported that the Central Bank of Nigeria (CBN) has distanced itself from fake eNaira twitter account, @enaira_cbdc, which claims that the apex Bank is offering intervention funds to Nigerians.
The fake twitter handle said the financial regulator is disbursing 30 billion eNaira currency to Nigerians that sign up and provide their eNaira wallet details through the link @enaira_cbdc posted.
The Twitter handle has attracted several followers while disguising to be an account owned by the central bank, and the monetary authority has warned Nigerians not to fall victim of the perpetrators' trap.