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…Deploy infrastructure for immediate forex sale

By Babajide Komolafe & Elizabeth Adegbesan

Banks Chief Executives have warned against presentation of fake documents for foreign exchange purchase, even as they expressed readiness to sell foreign exchange to members of the public as directed by the Central Bank of Nigeria (CBN).

This follows the decision of the CBN to cancel foreign exchange sale to bureaux de change (BDCs), directing that members of the public should go to their banks to purchase FX for legitimate transactions.

Speaking under the aegis of the Body of Bank Chief Executives at a virtual press briefing, the banks’ CEOs, said that anybody that attempts to purchase FX with fake documents will be reported to the CBN and the Police for possible prosecution.

The bank CEOs include Herbert Wigwe of Access Bank Plc, Segun Agbaje of GT Holding Company, Tomi Somefun of Unity Bank, Yemisi Edun of FCMB Bank,and Patrick Akinwuntan of Ecobank.

According to Herbert Wigwe, the banks have started implementing the directives of the CBN, by deploying the needed infrastructure including dedicated tellers in the branches to sell FX to customers.

Segun Agbaje said that given the number of bank branches, the banks have more than enough  capacity and the reach to implement the directive of the CBN.

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