2021-09-01 | BSD/DIR/PUB/LAB/14/059

Publication of Names of Defaulters of the CBN Policy on Sale of FOREX for PTA/BTA

The Central Bank of Nigeria's Banking Supervision Department has issued a letter to all banks, directing them to publish the names and BVNs of customers who engage in sharp practices, such as using fake visas or canceling air tickets without returning purchased PTA/BTA within the stipulated time frame. This measure aims to curb the risk these practices pose to the integrity and stability of the forex market. The letter emphasizes the importance of upholding the CBN's policy on the sale of forex for overseas travel and instructs banks to take appropriate action to ensure compliance.

Nigeria

Central Bank of Nigeria

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