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Customers Scam Banks With Fake Visas, Tickets For Forex - Business - Nairaland

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Customers Scam Banks With Fake Visas, Tickets For Forex by treesun: 9:40am On Sep 20
The Central Bank of Nigeria has vowed to engage financial crime fighting agencies to pursue fraudsters who have been deceiving the banks with fake documents to buy forex at cheap rates and sell at higher rates at the black market, NIKE POPOOLA reports

Eight weeks after the Central Bank of Nigeria stopped selling forex to Bureau De Change operators and asked legitimate travellers to approach the banks to access cheap forex, the banks have been inundated with fake demands, findings have revealed.

More customers have been deceiving the banks with fake documents to obtain the forex at cheaper rate, and prevented genuine travellers from gaining access to forex.

The CBN Governor, Godwin Emefiele, had said that the BDCs defeated their purpose of existence to provide forex to retail users and had become wholesale and illegal dealers.

“They have remained renegade and so greedy, recalcitrant with abnormally high profit from these sales while ordinary Nigerians have been left to feel the pain and therefore suffer,” he said.

He said the CBN had maintained its stand to discontinue the sale of forex to the BDCs.

Emefiele urged any Nigerian who had legitimate business to conduct to take the business to the banks to buy cheap forex.

He also said the banks would sell forex to travellers to pay for school fees and medical bills.

According to him, travellers could access up to $4,000 for Personal Travelling Allowance and $5,000 for Business Travelling Allowance.

He added, “I want to put it on record that if the amount you want is above the limit that is recognised and we find that the reason you are making those demands is legitimate, the bank will speak to us and we will give you what is even more than the limit.

“If you have dollars to sell, go to your bank. We will continue to monitor the banks.”

Findings, however, showed that the banks have been reporting fraudulent forex demands to the CBN.

Confirming this, Emefiele said, “We conducted a study; one of the banks in one day sold to 52 people who said they wanted to travel. After two weeks, they went to check, 40 out of the 52 had cancelled their tickets.


“How could you have a situation where about 70 per cent or 80 per cent who went to bank to buy BTA on the reason that they want to travel, banks sold to them, they turned back and went and sold to the black market. They were asked to return it and we are going to pursue you if you are involved in these nefarious activities.”

Emefiele added, “If you go to bank with fake visa, fake passport, we have told them not to sell to you. If they sell to you mistakenly, and after two weeks, we check and find that you cancelled your ticket or your visa is fake, they will call you because you are their customer.

“They have your BVN, they have your number, they will call you to return the dollars. If you do not return it, they will place your name on their website, your BVN on their website, we will pick those details.

“We will send them to EFCC and other crime agencies, they will pursue you and you must return the dollars because you cannot acquire it illegally. That is our position.”

However, some legitimate travellers have complained that they applied for forex at their banks but could not get it before their trips.

A traveller, who identified himself just as Felix, said, “My wife applied for PTA at the bank. Today, they called to inform her that they do not have dollars and she should seek alternative means from BDCs.

“This was despite sending mails out that travellers could buy forex five hours before their trip.”

Another traveller, who did not want to be named, said, “I applied for forex and was going to the bank and spending hours there for three days but they did not sell to me and did not inform me that they would not sell to me after wasting my precious time.

“I had to go the BDCs to buy at the black market rate when I was travelling. I spent three days trying to get dollars at the bank before my trip; I could not.”

A source from one of the banks who would not want to be quoted said that there were instances of customers applying for forex but did not travel after two weeks from the bank’s findings.

According to him, the customers did not return the forex that they bought to the bank.

He said the banks had to go through a lot of processes to confirm the payments before selling the forex and many applicants were on the waiting list.

While explaining the reasons why many travellers had been applying but could not get forex, he said that the bank could only sell the quantity of forex available to them when they are only able to finish confirming the applications.

Meanwhile, the naira had maintained its downward trend after falling to N570/$ on Friday from N490/$ before the CBN stopped forex sales to the BDCs in July.

The naira however traded around N412/$ at the I&E forex window which is the only official rate the CBN governor said he recognised.

As part of efforts to solve naira crisis, the CBN on Friday vowed to clampdown on Abokifx, an online forex publication.

It had accused the website, its owner and patrons of manipulating the exchange rates to sabotage the economy.

In response, abokiFX suspended its publication of exchange rates between the naira and other currencies on its website.

AbokiFX disclosed this in a statement on Friday evening titled ‘Temporary suspension of rate publication – AbokifX’. It said, “AbokiFX has taken the decision today, the 17th of September 2021, to temporarily suspend rate updates on all our platforms, until we get better clarity of the situation.

“Final rates have been posted this evening but the abokiFX news section and the Crypto rates section will still be active.”

A former President, Association of National Accountants of Nigeria, Dr Sam Nzekwe, said forex should not be allocated to the BDCs but the BDCs should source for the forex by themselves.

“Allocating forex to them is like throwing money into an area that you don’t have adequate control because you don’t know what they are doing,” he said.

On the happenings in the banks, he said it was necessary to monitor the banks very well to make sure that they were playing according to the rules.

According to him, people could make quick money from the forex if they were not well monitored.

Banks have continued to tell beneficiaries of the cheap forex sales to return them if not used.

First Bank of Nigeria said in an email to its customers titled ‘Adherence to forex sale policy’, that “We have been directed by the Central Bank of Nigeria to inform all our customers that unethical practices to circumvent the new CBN policy on the sale of forex, such as the presentation of false travel documents, visas, and the cancellation of flight tickets after purchasing personal travel allowance and business travel allowance, will no longer be tolerated.

“Defaulting customers who present fraudulent travel credentials or cancel their tickets and fail to refund the purchased PTA and BTA within two weeks, as stated in the signed customer declaration form, will have their identities and bank verification numbers published.”

More banks have also been passing the same message to their customers, findings revealed.

https://punchng.com/customers-scam-banks-with-fake-visas-tickets-for-forex/?

2 Likes

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by treesun: 9:42am On Sep 20
Nigeria is the base center of crime all over the world.
Lalasticlala

55 Likes 5 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by PENNYSWAP: 9:44am On Sep 20
What’s holding them from stamping the yuan naira exchange

20 Likes 1 Share

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by treesun: 10:00am On Sep 20
PENNYSWAP:
What’s holding them from stamping the yuan naira exchange

People were making noise about Yuan in 2015, I told people then that Government were only doing propaganda, everywhere in the world, dollar is the currency to be competed against. I know banks will frustrate this policy, if you know you know.

54 Likes 4 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by PENNYSWAP: 10:41am On Sep 20
treesun:


People were making noise about it in 2015, I told people then that Government were only doing propaganda, everywhere in the world, dollar is the currency to be competed against. I know banks will frustrate this policy, if you know you know.

That’s very bad
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by treesun: 11:05am On Sep 20
PENNYSWAP:


That’s very bad

The problem is that most guys in banks, especially those in Forex will be cashing out. Their excuse will be they cant detect fake travel documents.

48 Likes 3 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by treesun: 12:04pm On Sep 20
Oluwole activated grin grin grin grin grin grin grin grin

7 Likes 2 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by slawormiir: 3:58pm On Sep 20
Damnnn niggarrrr

The street is no longer funny

Mount your guard because if you loose guard them go maga you

37 Likes 2 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by Bornsinner7: 3:58pm On Sep 20
The hustle is real..

Scammers everywhere..

1 Like

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by gistray: 3:59pm On Sep 20
You are making life a living he'll for the people you idiot
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by wman(m): 3:59pm On Sep 20
Really bad.


When they make dollars scarce to access.

Lack of supply will worsen the dollar rate to naira.

1 Like 1 Share

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by murphyibiam15(m): 3:59pm On Sep 20
Truth is that the Nigerian people are so insincere and corrupt like the govt, just imagine.

I just know that the free fall of NGN is artificial and manipulated by dark forces

52 Likes 4 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by pitroski(m): 3:59pm On Sep 20
Them do scam scammer

1 Like

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by adonainana: 3:59pm On Sep 20
Omo imagine pretending you are Travelling and you get the maximum PTA for $4000 at 410 and you just go jeje to the black market and sell for 570. Profit of 640,000 naira without even breaking a sweat

Reminds me of one Form M round tripping too like that and every time someone I knew done it he got like 1.2 million naira in profit and because it was Form M all you had to do was pick up from where you stopped

Kai Nigeria and fraud is like 5 and 6
Even Buhari is no exception cos promising $1 to 1 naira is fraud by false representation

God save us all

Pls check my profile I help change pounds to naira

39 Likes 1 Share

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by IamDavid(m): 3:59pm On Sep 20
Vah
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by MANNABBQGRILLS: 3:59pm On Sep 20
Say no to fraud

2 Likes 2 Shares

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by Btruth: 3:59pm On Sep 20
Hummm.....
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by IamDavid(m): 3:59pm On Sep 20
This is serious
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by nairavsdollars(f): 3:59pm On Sep 20
what about the ones that banks are scamming customers? i have not received alert sms for months yet they have been debiting me

13 Likes

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by wolewolsz(m): 4:00pm On Sep 20
We are our own problem in this country

2 Likes

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by oluwaseunamos33(m): 4:00pm On Sep 20
the bank mumu
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by BabaIbo: 4:00pm On Sep 20
Ole gbe!

Ole gba a!

Meaning thief(bank) carry from their customers(via unnecessary charges), another thief(customers) collect from them(bank).

1 Like

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by Brandonx(m): 4:00pm On Sep 20
All noise undecided
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by NaijaCover(m): 4:01pm On Sep 20
Nawa o
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by espn(m): 4:01pm On Sep 20
The real scammers are in government...

3 Likes 1 Share

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by inoki247: 4:01pm On Sep 20
lol
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by jomoh: 4:02pm On Sep 20
Ok
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by FlashDboy: 4:02pm On Sep 20
treesun:


https://punchng.com/customers-scam-banks-with-fake-visas-tickets-for-forex/?

Pure lies.!!!!!

How come those with genuine documents still find it hard to get forex from the bank.

Make dem shift jor and stop lieing just to aportion blame.

7 Likes

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by TempUser: 4:03pm On Sep 20
angry
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by GABRIEL6036: 4:03pm On Sep 20
Person no fit do forex in peace again? Haaaa, wa ooo
Re: Customers Scam Banks With Fake Visas, Tickets For Forex by greenie77: 4:03pm On Sep 20
There are insiders in the banks facilitating the fraud.

12 Likes

Re: Customers Scam Banks With Fake Visas, Tickets For Forex by OlawaleBammie(m): 4:03pm On Sep 20
Scammers just dey everwhere grin grin

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