The Economic and Financial Crimes Commission (EFCC) has cautioned banks against selling foreign exchange (FX) to customers with no intention of travelling outside the country.
This warning was issued on Wednesday by the commander of the Uyo zonal command of the commission Nwanneka Nwokike when he met with chief compliance officers of banks in the zone.
The Central Bank of Nigeria (CBN) in July directed deposit money banks (DMBs) to set up teller points to meet legitimate forex demands..
This development came following the discontinuation of FX sales to Bureaux De Change (BDC) operators.
Nwokike via a statement released by EFCC spokesperson, Wilson Uwujaren said indications have emerged that some bank customers present fake travel documents to obtain foreign exchange.
He urged banks to verify documents presented by customers seeking to buy foreign exchange.
Nwokike said the anti-graft agency, under the leadership of Abdulrasheed Bawa, would not hesitate 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,” Nwokike said.
“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.”
While responding to the issue of customers who book foreign flights and cancel after collecting foreign exchange from banks, Hamidu Bawa, the deputy zonal commander, instructed the compliance officers to report such customers to the EFCC.
“Always report bank officials who collude with criminal elements to collect foreign exchange,” Nwokike said.
“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.”
While responding to the issue of customers who book foreign flights and cancel after collecting foreign exchange from banks, Hamidu Bawa, the deputy zonal commander, instructed the compliance officers to report such customers to the EFCC.