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Names of Nigerians Who Bought Forex With Fake Visas And Their Account Details

On August 31, the Central Bank of Nigeria (CBN) said it discovered some Nigerians who bought forex for Personal Travel Allowance (PTA ) and Business Travel Allowance (BTA) with fake visas at designated banks, a practice that could lead to the blockage of account details of such defaulters or face prosecution. The apex bank immediately

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Foreign Exchange Market Nigeria Dollar To Naira

Fact Check: Is CBN Planning To Convert Domiciliary Account to Naira?

There are speculations that the Central Bank of Nigeria (CBN) might pounce on foreign currencies in domiciliary accounts and convert such to naira in order to stabilise the foreign market. The rumour first surfaced on social media that the apex would be converting to naira domiciliary account holdings How True Is This Report? The same

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CBN to Revoke Forex Operating Licence of Banks That Engage in Sharp Practices

The Central Bank of Nigeria (CBN) has vowed to revoke for a year the foreign exchange operating licence of any bank that engage FX malpractices The apex stated this in a circular entitled, “Observance of due diligence in the processing of foreign exchange transactions” which was signed by its Director of Trade and Exchanges Dr.

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Some Nigerians Use Fake Visas To Buy PTA and BTA – CBN, Vows To Expose Forex Defaulters

The Central Bank of Nigeria has confirmed that it is aware that some Nigerians used fake visas and deliberately cancel their air tickets after purchasing Personal Travel Allowance and Business Travel Allowance. Recall that the apex bank mandated financial institutions to make PTA and BTA accessible to Nigerians who need forex to settle important needs

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Foreign Exchange Market Nigeria Dollar To Naira

CBN Freezes Accounts of 18 Companies for Suspected Forex Violations

UPDATE: Almost two years after the bank accounts of some companies and individuals were frozen, Nigeria’s apex bank on Tuesday, July 26, 2023, directed banks to vacate a post-no-debit restriction placed on the affected accounts. In a circular signed by A.M. Barau on behalf of the Central Bank of Nigeria (CBN), directed the banks to notify the concerned

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