The United Bank for Africa (UBA) has published the names and account numbers of some customers who allegedly defied the forex policy of the CBN.
The UBA explained that individuals applied for Personal Travel Allowance (PTA) and bought cheap dollars at the bank but did not use it for the purpose.
The bank disclosed further that the customers presented fake visas to apply for PTA. The financial institution added that the beneficiaries committed the offence after applying for fake tickets or visas.
The account numbers and Bank Verification Numbers (BVN) of the defaulters were included in the publication on the bank’s website.
The UBA disclosed this in a publication on its website titled ‘CBN FX defaulters,’ over the weekend, saying, “In compliance with the directive of Central Bank of Nigeria mandating banks to publish the names of defaulters of the forex exchange regulation.
“Based on regulatory directives, the following customers cancelled their trips and failed to return the PTA availed to them despite several emails, text messages and follow up phone calls.”
Techeconomy.ng previously reported that commercial banks in Nigeria had threatened that customers who present fake travel documents for foreign exchange requests are at risk of criminal prosecution by the CBN.
The United Bank for Africa (UBA), in a statement, said it is only the Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) that are currency exchange schemes specifically set up for Nigerians traveling abroad for personal or business reasons.
Recall that the CBN had directed Deposit Money Banks (DMBs) to set up teller points to meet legitimate FX demands.
This medium reported that the development came after the apex bank halted the sales of FX to Bureau De Change (BDCs) operators.
UBA asked customers to submit only genuine documents to obtain FX for personal and business travel as well as payment for overseas education, medical and other eligible invisible transactions.
In a list of rules provided for customers, the bank said FX will only be sold for legitimate travel purpose as applicants are required to provide a valid Nigerian passport and a valid visa to an international destination.
The statement read: “Your ticket must be to an international destination outside of West Africa and Cameroon. You are required to provide an international return ticket, with a travel date not more than 14 days from the date of PTA/BTA purchase.