Reports have claimed that Zenith Bank Plc, Sterling Bank Plc, and eight other banks have published a total of 1,042 foreign exchange defaulters in the last three months.
Techeconomy.ng can confirm that the banks’ action against the defaulters was in compliance with the Central Bank of Nigeria (CBN) foreign exchange policy,
The reports revealed that Zenith bank, followed by Sterling Bank and Access Bank recorded most defaulters in the period when the policy was proclaimed by the CBN.
Zenith bank on its website reported a total of 879 FX racketeers, while Polaris Bank and Sterling Bank reported 54 and 52 respectively.
On its part, Polaris Bank noted that the 54 customers cancelled their trip and failed to refund the Personal Travel Allowance (PTA) sold to them despite follow ups with them Sterling Bank named 46 bank customers to cancellation of their trip and failure to return the PTA availed to them despite reaching out to them with phone calls and messages and six of them for presenting fake visa or document to apply for PTA.
Access Bank reported 24; Fidelity Bank, 10, First City Monument Bank, 8; Stanbic IBTC Bank, 7; Standard Charted Bank, 4; United bank for Africa, 3, and Wema bank, 1.
UBA was the first bank that published names of some individuals who applied for PTA and bought cheap dollars at the bank but did not use it for the purpose they applied for.
The account numbers and BVN of the defaulters were included in the publication on the lender’s officla website.
According to the bank, the beneficiaries committed the offence after applying with fake tickets or visas.
“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 cancelled 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.”