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How Customers scam banks with fake visas, tickets for forex

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Customers scam banks with fake visas, tickets for forex
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How Customers scam banks with fake visas, tickets for forex

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.”

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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.

Customers scam banks with fake visas, tickets for forex

“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.”

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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.

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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.

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Reps Deputy Minority Whips, Adekoya To Be Installed As ‘Otunba Gbadegoroye’ Of Isara Kingdom

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Reps Deputy Minority Whips, Adekoya To Be Installed As 'Otunba Gbadegoroye' Of Isara Kingdom
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Reps Deputy Minority Whips, Adekoya To Be Installed As ‘Otunba Gbadegoroye’ Of Isara Kingdom

……AS AREMO EBUMAWE OF AGO-IWOYE IS HONORED BY THE ODEMO IN COUNCIL AS OTUNBA GBADEGOROYE OF ISARA KINGDOM

Good things do not only come to those who wait as the saying goes. Auspicious recognition, honour, and rewards come to those who serve diligently and relentlessly.

The house of representatives deputy minority whips, Rt Hon Adesegun Abdel-Majid Adekoya is set to be installed as the ‘Otunba Gbadegoroye’ of Isara Kingdom in Eastern part of Ogun state.

This, perhaps is the right description that befits Rt. Hon. Adesegun Abdel-Majid Adekoya, the Deputy Minority Whip, House of Representatives, 9th Assembly, who is also the Aremo Ebumawe of Ago-Iwoye, as he is set to be conferred with the prestigious Chieftancy title of *OTUNBA GBADEGOROYE of Isara-Remo,* Ogun State, by His Royal Majesty, the Odemo of Isara and the Odemo in Council. He, Rt. Hon. Adesegun Abdel-Majid Adekoya is a prominent Prince of the ERINSIBA Ruling House of Isara Remo.

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For the People’s Representative, the nomination, which he has since accepted, defines honour and rewards for service and commitment to sociopolitical responsibilites especially as such Chieftancy Title is coming from outside of his Federal Constituency and immediate environment of influence and operations.

The multiple titles holder, who is a Crown Prince, wishes to assure the Odemo of Isara, the *ERINSIBA Ruling House,* Odemo in Council, the good people of Isara Remo, his own Constituents, Ogun State people and humanity in general that this title which could not have come at a better time, will further reinforce and energize him to do more for mankind and society. After all, to whom much is given, much is equally expected.

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Police Recruitment: Kaduna Command Announces Venues For CBT

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Police Recruitment: Kaduna Command Announces Venues For CBT
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Police Recruitment: Kaduna Command Announces Venues For CBT

The Kaduna State Police Command is informing the general public particularly those who participated in the 2020 Physical and Credential Screening Exercise that, the Nigeria Police Force in collaboration with the Police Service Commission will be concluding the ongoing 2020 recruitment exercise of Ten Thousand (10,000) Police Constables into the service of the Nigeria Police Force.

This was contained in a statement signed by the Police Public Relations Officer, ASP Mohammed Jalige.

To this effect, the Command enjoined all applicants to check their names in the comprehensive list pested at the Police Command Headquarters Bida Road Kaduna.

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Successful candidates are to print out their examination slip which must be presented during the Computer Based Test Examination scheduled for Friday, 29th and Saturday, 30th October, 2021 at the following centers
* Dambo International College Barnawa
* Sardauna Memorial College (SMC) and
* Iya Abubakar CBT Center, Ahmadu Bello University Zaria.

The Command reiterated that the recruitment exercise is absolutely free of charge and without any pecuniary obligation, and warns all and sundry to desist from any form of extortion, as anybody found wanting will be sanctioned accordingly.

The Commissioner of Police CP Mudassiru Abdullahi psc (+) while wishing applicants successful exams, assures them of adequate security coverage before, during and after the exercise.

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Nigerian Air Force Vehicle Illegally Using BRT Lane Kills Young Artist In Lagos

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Nigerian Air Force Vehicle Illegally Using BRT Lane Kills Young Artist In Lagos
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Nigerian Air Force Vehicle Illegally Using BRT Lane Kills Young Artist In Lagos

He was knocked down by the military vehicle illegally using a BRT lane on Ikorodu Road while he was on his way to work.

The Nigerian Air Force vehicle, violating the Bus Rapid Transit (BRT) Law in Lagos State, has allegedly killed a 31-year-old professional dancer, Ifeanyin Kalu.

According to popular stage actor, Segun Adefila, the deceased was knocked down by the military vehicle illegally using a BRT lane on Ikorodu Road while he was on his way to work.

Ifeanyin’s lifeless body was said to be in the mortuary of NAF hospital in Lagos, while his mother’s body was in another mortuary in the same state.

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Sources said his mother, Mrs Oluchi Kalu, died of cardiac arrest in August 2021.

They added that the Air Force offered the family N200,000 towards Ifeanyin’s burial.

Nigerian Air Force Vehicle Illegally Using BRT Lane Kills Young Artist In Lagos

“Ifeanyin was a young Nigerian artist who was diminutive in stature but gigantic in strides. His life was one huge struggle for survival without a thought for crime but through a dint of hard work,” Adefila posted on Facebook.

“He was a prominent member of the Bariga Artists Forum (BAF) and Guild of Nigerian Dance Practitioners (GONDP). He was also a founding member of Dachrismofa Art Troupe and an alumnus of Feetprints Africa and the assistant director of Kings and Queens Art Academy- a children focused theatre group.

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“His creative energy lit up every gathering he attended. Born on the 15th of July 1990, Ifeanyi was the second son of his economically disadvantaged family and the fourth child. He was a major breadwinner of the family, a bread not only rarely gotten but also never buttered.

“Their mother and matriarch of the Kalu clan passed on on the 27th of August 2021. On October 20, 2021, Ifeanyin’s life was cut short on the express way of Ikorodu Road. He lived with his aged father and 6 siblings and left them at home on that fateful day for a job he just secured. He was on his way to a school (Temple Schools, Ilupeju) where he was helping to teach the pupils cultural dance and music.

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“A Nigerian Air Force vehicle traveling on a BRT lane knocked him down. Ifeanyin’s body is still in the Nigerian Air Force base mortuary. Ifeanyin’s mum is also still in another mortuary. His bereaved family who are definitely inconsolable at the moment also stands the risk of not getting any form of tangible compensation from those whose vehicle knocked him down.”

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