By Eyo Nsima
The Central Bank of Nigeria, CBN, has directed banks to publish on their websites the names and Bank Verification Number, BVN, of customers, who present fake travel documents, cancel their tickets and fail to return the purchased Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) within two weeks.
In a notice to the banks, Haruna Mustapha, Director, Banking Supervision Department, CBN, stated: “The CBN received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel.
“Some of these unwholesome practices include the use of fake visas and cancellation air tickets after purchase of PTA/BTA. This trend, if not curbed, portends risk to the integrity and stability of the forex market.”
He added: “Consequently, further to the various measures already put in place, all banks are hereby directed to publish on their websites the names and BVN of defaulting customers, who present fake travel documents or cancel their tickets and fail to return the purchased PTA/BTA within two (weeks) as stipulated in the customers declaration form signed by them.”
