The Central Bank of Nigeria has barred nine deposit money banks from all foreign exchange transactions and operations, pending the remittance of $2.12 billion dollars belonging to the Nigeria National Petroleum Corporations to the Treasury Single Account. Sources confirmed to Daily Trust that the nine banks comprise of three tier-one lenders and another six tier-two deposit money banks.
The affected banks are: Diamond Bank, First Bank of Nigeria, First City Monument Bank, Fidelity Bank, Heritage Bank, Keystone Bank, Sky Bank, Sterling Bank and United Bank for Africa.
“The affected banks remain barred from foreign exchange operations until they fully remit the NNPC funds into government coffers via the Treasury Single Account,” a source in the apex bank said.
When contacted, the spokesperson of the NNPC Mallam Garba Deen Muhammed told Daily Trust yesterday that when the corporation informed the presidency on the non-remittance of the fund to the TSA by the banks.
Meanwhile the United Bank for Africa (UBA), in a statement from its Head, Corporate Communications, Charles Aigbe, said that it has completely remitted all NNPC/NLNG dollar deposits to TSA.