BY KENNETH EZE
Stanbic IBTC has issued an advisory to customers who intend to purchase the Personal Travel Allowance and Business Travel Allowance through it that it would no longer tolerate sharp practices.
The bank revealed in a statement that it intends to comply fully with new Central Bank of Nigeria’s directives on PTA and BTA issuances and remained ready to sanction whoever was found in breach.
It stated, “We have been mandated by the Central Bank of Nigeria to notify all our clients that unwholesome 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 condoned.”
It warned customers that it would comply with the CBN’s directive to make public certain personal banking details of defaulters, including their BVNs.
“Also, we have been directed to publish the names and bank verification numbers of defaulting customers who present fake travel credentials or cancel their tickets and fail to return the purchased PTA and BTA within two weeks, as stipulated in the signed customer declaration form.”
This position, the bank said would be effective, immediately, saying “We intend to proceed with this directive immediately.”
It consequently counselled customers to comply fully with the CBN’s directive. “We advise that customers adhere to the aforementioned directive so that we can continue to provide the best financial services as regards foreign exchange,” it added.
