The Economic and Financial Crimes Commission has warned banks against providing foreign exchange to customers who have no intention of travelling outside Nigeria.
The EFCC also stated that documents provided by customers seeking forex should be verified.
The Commander of the Uyo Zonal Command of the EFCC, Nwanneka Nwokike said this on Wednesday, September 8, 2021, when he met with Chief Compliance Officers of banks in the zone.
According to a statement titled, ‘EFCC Cautions Banks Against Forex Malpractices,’ Nwokike said indications have emerged that some bank customers present fake travel documents including false flight bookings to obtain foreign exchange.
He said the anti-graft agency under the leadership of EFCC Chairman, Abdulrasheed Bawa, has vowed to clamp down on forex offenders, be they bank officials or customers.
“Always report Bank officials who collude with criminal elements to collect foreign exchange. There are very strong indications that it is happening; go back and sensitise your staff, to ensure that they always do the right thing because ‘doing the right thing’ has become the new normal; therefore, proper verification of documents presented by customers for forex must be done. Again, the Commission will not entertain excuses, and will no longer look away when Banks fail to do their due diligence,” Nwokike said.
While responding to the issue of customers who book foreign flights and cancel after collecting foreign exchange from banks, the Deputy Zonal Commander ACE II Hamidu S. Bawa instructed the Compliance Officers to report such customers to the Commission.
“When you observe such offenders, report them to the Commission and provide their BVN along, because after now, the liability will be on you and I’m sure you don’t want that to happen,” he said.