2 days ago · The Central Bank of Nigeria (CBN) has vowed to engage financial crime fighting agencies to pursue fraudsters who have been deceiving the banks with fake documents to buy foreign exchange at cheap rates and sell at higher rates at the black blogger.com apex bank had, few weeks ago, stopped selling forex to Bureau De Change [ ] 31/08/ · Emefiele in a circular titled, “Publication of names of Defaulters of a CBN policy on sale of Forex for PTA/BTA” and signed by the bank’s Director, Banking Supervision Department, Haruna Mustafa said, the new directive was given to curb the unwholesome conduct of some unscrupulous customers who are trying to circumvent its new forex policy 31/08/ · The Central Bank of Nigeria (CBN) has issued a memo mandating all banks to publish the names and Bank Verification Number (BVN) of defaulters of its forex policy. Ripples Nigeria gathered that the
Manufacturers back CBN’s ban of forex sale to BDCs - TODAY
The CBN had also directed that travelers who buy foreign exchange from banks for travel purposes but fail to embark on the trip after 2 weeks of their scheduled travel date must return the forex to the banks.
The banks in their notices also pointed out consequences for those customers who engage in fraudulent and unethical practices with regards to the purchase of Personal Travel Allowances PTA and Business Travel Allowances BTA.
According to reports some of these banks like First Bank, informed their customers of the strict implementation of the CBN forex policy by exposing the identities of those engaged in sharp practices. The banks also promised to ensure transparent, efficient, stable foreign exchange market for new policy on forex by cbn users. Reports also said that UBA, which moved to implement the CBN forex policy, encouraged its customers to adhere to all the apex bank guidelines as directed.
Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing new policy on forex by cbn of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment, new policy on forex by cbn.
Home Markets Currencies. Banks begin enforcement of CBN forex directive, order travelers to return unused forex by Chike Olisah. September 11, in CurrenciesMarketsSpotlight. Share on Facebook Share on Twitter. Related posts. Electricity: TCN has lost N1. EU plans to make USB-C a common charger mandatory for all devices including Apple iPhones September 24, Tags: CBN Central Bank of Nigeria forex.
Chike Olisah Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector.
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Nigeria's Forex Market: CBN To Clear Backlog Of FX Demand
, time: 10:22Forex: CBN To Engage Crime Agencies To Fight Fraudsters – …The Tide News Online…
2 days ago · The Central Bank of Nigeria (CBN) has vowed to engage financial crime fighting agencies to pursue fraudsters who have been deceiving the banks with fake documents to buy foreign exchange at cheap rates and sell at higher rates at the black blogger.com apex bank had, few weeks ago, stopped selling forex to Bureau De Change [ ] MAN in a statement titled: “MAN’s Perspective on the CBN New Policy on Forex Allocation to BDCs,” signed by its Director General, Mr. Segun Ajayi-Kadir, stated that the directive of the CBN 31/08/ · Emefiele in a circular titled, “Publication of names of Defaulters of a CBN policy on sale of Forex for PTA/BTA” and signed by the bank’s Director, Banking Supervision Department, Haruna Mustafa said, the new directive was given to curb the unwholesome conduct of some unscrupulous customers who are trying to circumvent its new forex policy
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