{"id":51273,"date":"2021-08-13T09:55:05","date_gmt":"2021-08-13T08:55:05","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=51273"},"modified":"2021-08-13T09:55:05","modified_gmt":"2021-08-13T08:55:05","slug":"bankers-plan-digital-process-for-forex-sales","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/bankers-plan-digital-process-for-forex-sales\/","title":{"rendered":"Bankers Plan Digital Process For Forex Sales"},"content":{"rendered":"

The Bankers\u2019 committee has concluded plans to digitise sales of Foreign Exchange (Forex) across the country.<\/p>\n

According to a member\u00a0of the Bankers\u2019 Committee Group, Mr. Segun Agbaje, who is the chief executive officer of Guaranty Trust Holding Company Plc,\u00a0foreign exchange for Personal Travel Allowance (PTA) among others, would now be sold online.<\/p>\n

Briefing Journalists at the end of the Bankers\u2019 Committee meeting on Thursday in Lagos, Agbaje \u201cI hope that many of you will see that the new Foreign Exchange policy with regards to Invisibles, Personal Travel Allowance (PTA), Basic Travel Allowance (BTA), tuition fees, and medical payments, is working very well.<\/p>\n

\u201cWe have taken it upon ourselves along with the regulator to make sure that this works, and this is just the first phase and if you noticed most of the things you are doing today, you are going into the branches to do most things.<\/p>\n

\u201cBut, we are going to also try to digitise this whole thing the way the world is going; and that is being done by Nigeria Inter-Bank Settlement System Plc (NIBSS) where you will be able to buy online,\u201d Agbaje said.<\/p>\n

According to him, the NIBSS already has a portal, through which banks share information on the application process.<\/p>\n

Agbaje warned fraudulent individuals to have a change of mind as anyone caught would not be able to do anything in the banking system again.<\/p>\n

He further said the punishment would not only be meted to fraudulent individuals, but also to any bank and staff that contravened the apex bank\u2019s rules.<\/p>\n

In addition to digitising, Agbaje expressed the hope that customers would no longer carry out all their transactions by cash.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThe world today is not friendly about arriving in countries with cash, so we are hoping that people will be able to put this on their cards and card account.<\/p>\n

\u201cIf you use a card, there is more KYC that can easily be done! It will be quicker, cheaper and faster, you will be less harassed when you arrive in countries and there will be no need for you to fill a cash declaration form,\u201d he said.<\/p>\n

Speaking on the rehabilitation of the National Arts Theatre, the Managing Director of Access Bank, Mr Herbert Wigwe, said the entire project would be completed Dec. 2022.<\/p>\n

\u201cWhat I want to say is just to let the public know that work has started in earnest.<\/p>\n

\u201cThere is a second module to the national theatre which has to do with music, fashion, Information Technology as well as the Film Industry.<\/p>\n

\u201cWhat that does, apart from National Theatre, which can host major events, people can work on different structures in which they can rent, build spaces around them, to do whatsoever creative thing they need to do so long as valuable products will be coming out of it.<\/p>\n

\u201cSo that second phase will start shortly, I think most of the contracts will be awarded sometime in September.<\/p>\n

\u201cAnd we expect that the entire project should be completed, that is, the National Theatre and the various Vatican should be ready by Dec. 2022.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bankers\u2019 committee has concluded plans to digitise sales of Foreign Exchange (Forex) across the country.<\/p>\n","protected":false},"author":6,"featured_media":24836,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[5938],"coauthors":[2391],"class_list":["post-51273","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-forex-market"],"yoast_head":"\nBankers Plan Digital Process For Forex Sales - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/bankers-plan-digital-process-for-forex-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bankers Plan Digital Process For Forex Sales - 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