It seems like a new era in forex management in Nigeria as the United Bank of Africa has published names of some defaulters.
The Central Bank of Nigeria has got stricter with forex, banning bureau de change operators while rooting the much needed facilities through commercial banks.
It has in turned been descending heavily on errant banks.
Now, UBA is not taking it cool with defaulters, as it published the names of some individuals who applied for Personal Travel Allowance and bought cheap dollars at the bank but did not use it for the purpose they applied for.
A report inThe Punch’ indicates that account numbers and Bank Verification Numbers of the defaulters were included in the publication.
According to the bank, the beneficiaries committed the offence after applying with fake tickets or visas.
The UBA disclosed this in a publication on its website titled ‘CBN FX defaulters’ on Friday.
It stated that, “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 PTA availed to them despite several mails, text messages and follow up phone calls.”
The bank added that, “The customer(s) below presented fake visa to apply for PTA.”
