Penalty For Defaulters Of PTA/BTA Guidelines



Dear xxxxxx xxxxx xxxxxxx,



Kindly be informed that customers who contravene the guidelines on FX purchase for Personal/Business Travel Allowance will have their names and Bank Verification number (BVN) published on our website www.fcmb.com. This is in line with the Central Bank of Nigeria (CBN)’s mandate and takes immediate effect.

The directive affects customers who purchase FX via fraudulent means such as presenting fake travel documents or cancellation of flights after buying PTA/BTA and failing to return same within 2 weeks, as stated in the customer declaration form signed by them.

Beyond having their names published on the website, such customers may also be liable to criminal prosecution.

We are committed to partnering with the CBN to ensure a transparent, efficient and stable FX Market that meets the needs of all legitimate users.

Thank you for choosing FCMB

What a great startegy from CBN. Thenext step is following it up with 2000 naira per single dollar not remiited.
They should automatically deduct culprits BVN linked accounts. This will definitely eliminate round tripping of Dollars