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CBN Orders Banks To Publish Names And BVN Of Forex Defaulters

Recently, the Central Bank of Nigeria (CBN) has ordered banks to publicize the names and BVN of all their customers who have defaulted in the Forex policy. the CBN said they have received reports that some customers were circumventing the CBN policy on the sale of Forex for business travel. 

The Director of Banking Supervision Department of the CBN, Haruna B. Mustafa said that the trend must be curbed or the integrity and stability of the forex market will be risked. Haruna said: "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”.

Before this order, most banks had written to their customers and informed them of their commitment to providing foreign exchange for their business travels and payment for education overseas. 

Content created and supplied by: CrimeWritterRae (via Opera News )

BVN CBN Central Bank of Nigeria Haruna Haruna B. Mustafa


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