Forex Policy: UBA Publishes Names, Bank Details Of Violators

The United Bank of Africa (UBA) has published the names, Bank Verification Numbers (BVNs), and account details of some customers accused of violating the Central Bank of Nigeria’s forex policy.

This followed the CBN’s directive to banks to identify customers who obtained foreign currency from banks through fraudulent or unethical means.

In a notice titled: “CBN FX defaulters,” posted on its website on Saturday, UBA noted that the decision was in compliance with the apex bank’s directive on foreign exchange.

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The notice read: “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 trip and failed to return the Personal Travel Allowance (PTA) availed to them despite several mails, text messages, and follow up phone calls.”

The bank also included the name of a customer who “presented fake visa to apply for PTA.”

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Banks had in an email to customers last month warned that defaulters of the new foreign exchange policy face criminal prosecution by the CBN.