Edge's News: The Central Bank of Nigeria (CBN) ask banks to publish Forex defaulters names....

The Central Bank of Nigeria (CBN) has directed all banks to publish names of customers who try to break the rules on Forex acquisition on their website. The CBN on Monday, August 30th issued a circular (BSD/DIR/PUB/LAB/14/059) to all banks lamenting that it has “received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel”. Some of the unwholesome practices, the CBN said: “include the use of fake visas and cancellation of air tickets after purchase of PTA/BTA”. Edge's Prospective: CBN has started its madness again, the policy was crap to begin with now they are doubling down on stupidity. What did CBN expect with a policy that does not cater for the masses, only those with a valid visa, please can someone ask CBN, if it's only a person with visa and that needs foreign currency. Now you are asking for names to be published, pushing...