Banks accuse customers of using expired travel tickets, fake passports to obtain forex

The Bankers’ Committee has lamented that some customers are using expired travel tickets and fake passports to procure forex from commercial banks amid sales restrictions to Bureau De Change operators.

They revealed that such persons submit airline tickets to deposit money banks to get forex, but cancel their ticket after procuring the foreign exchange.

In a statement by the Committee after a meeting on Thursday, the chief executives of the deposit money banks labelled such actions as fraudulent, and stated that perpetrators will be prosecuted.

The banks highlighted the fraudulent activities as lenders continue to strategise in a bid to curb forex scarcity following the decision by the Central Bank of Nigeria (CBN) to stop selling FX to BDC operators.

Read also: Again, exchange rates unchanged, as CBN increases forex allocation to banks

The CBN had accused the BDC operators of encouraging illegal activities which included money laundering and providing forex through illegal channels.

A statement from the Managing Director, First City Monument Bank, Yemisi Edun, said, “We are using digital means to take records and data. We have a portal with means to track fraud.

“For example, we noticed people coming with airline tickets and then cancelling in a bid to obtain forex. We have means to stop this kind of behaviour.” Edun said.

Herbert Wigwe, the Managing Director of Access Bank and Chairman of the committee, warned that bank customers will be handed over to enforcement agencies if they do not comply with CBN rules.

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