The United Bank of Africa (UBA), has become the first lender to publish on its corporate website, names, accounts and BVN numbers of three of its customers for allegedly violating the foreign exchange (FX) policy, as directed by the Central Bank of Nigeria (CBN).
Titled, ‘CBN FX Defaulters’, UBA explained on its website the move is “In compliance with the directive of Central Bank of Nigeria (CBN) mandating banks to publish the names of defaulters of the forex exchange regulation.”
It added that “based on regulatory directives, the following customers cancelled their trip and failed to return the PTA (Personal Travel Allowance) availed to them despite several mails, text messages and follow up phone calls,” and then proceeded to publish the names and account details of the two affected customers.
For the third customer, whose details were also included, UBA simply said: “The customer(s) below presented a fake visa to apply for PTA.”
Recall that the CBN had directed Deposit Money Banks (DMBs) to set up teller points to meet legitimate FX demands following its ban on the sale of FX to Bureau De Change (BDC) operators.
Specifically, CBN the apex bank had directed all banks “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 customer declaration form signed by them.”
It also warned that “This trend, if not curbed, portends risk to the integrity and stability of the forex market.”
Thereafter, UBA had also asked customers to submit only genuine documents to obtain FX for personal and business travel, as well as payment for overseas education and other eligible transactions.
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.”
