Posts
Customers Scam Banks With Fake Visas, Tickets So They Can Buy Cheap FOREX & Resell It At Expensive Rates At Black Markets.
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. 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,” h