Banking Briefs, BREAKING NEWS
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THE Central Bank of Nigeria, CBN, has re-admitted the United Bank for Africa, UBA, Plc into its foreign exchange market effective Thursday, August 25, according to a statement signed by Tokunbo Martins, director, Banking Supervision.
The statement which was made available to Realnews on Wednesday explained that the bank has remitted all outstanding Nigerian National Petroleum Corporation/Nigerian Liquefied National Gas, NNPC/NLNG, deposits in its possession to NNPC’s Treasury Single Account , TSA, at the CBN.
The CBN had directed all deposit money banks, DMBs, to return all outstanding unremitted NNPC/NLNG foreign currency to the TSA.
It should be recalled that the CBN had banned nine banks including First Bank Plc and others because they are withholding forex from the NNPC/NLNG accounts after the deadline the federal government set for all its ministry, department and agencies to move all monies in the banks to the Treasury Single Account.
— Aug 25, 2016 @ 4:45 GMT
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