Announcements

Follow Us
Advert
Donate

Kindly donate to our forum.

10%

10% of donation goal reached.

Follow Us on Facebook

How Nigeria Is Making It Easier For Small Businesses To Get Funding - CBNAfrica

View previous topic View next topic Go down

avatar
Paradise
Administrator
Administrator
Gender Gender : Male
State : Ebonyi
Posts : 851 Posts Liked : 289
View user profile

PostParadise on Tue 23 Aug 2016, 10:46 pm

Determined not to tolerate any further breach of extant financial regulations, the Central Bank of Nigeria (CBN) has barred nine banks from all foreign exchange transactions.
The banks, THISDAY exclusively gathered this afternoon, were barred for failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the presidency last year.
The banks, whose suspension would remain in force until they remit all the funds to the TSA are:

United Bank for Africa (UBA) $530m;
First Bank of Nigeria (FBN) $469m;
Diamond Bank Plc ($287m);
Sterling Bank Plc ($269m);
Sky Bank Plc ($221m);
Fidelity Bank ($209m);
Keystone Bank ($139);
First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).

The CBN sources told THISDAY that further disciplinary actions awaited the erring banks after remitting the funds in full to the government’s coffers.


Hello Guest! We The Team of this Forum are Happy You Read This Post. We Appreciate it alot and Wish You Would Come Back As We Would Be Putting Up New and Quality Posts daily Just For You :happy people:

View previous topic View next topic Back to top

Create an account or log in to leave a reply

You need to be a member in order to leave a reply.

Create an account

Join our community by creating a new account. It's easy!


Create a new account

Log in

Already have an account? No problem, log in here.


Log in

 
Permissions in this forum:
You cannot reply to topics in this forum