US dollars
Following a Central Bank of Nigeria (CBN) alarm, UBA, one of Nigeria’s and Africa’s top tier banks said it has remitted into the Treasury Single Account (TSA) domiciled at the CBN all dollar deposits belonging to the Nigerian National Petroleum Corporation (NNPC)/Nigerian Liquefied Natural Gas Company (NLNG).
Affected banks according to CBN sources are First Bank of Nigeria (FBN) $469m; Diamond Bank Plc. ($287m); Sterling Bank Plc. ($269m); Skye Bank Plc. ($221m); Fidelity Bank ($209m); Keystone Bank ($139); First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m). UBA was earlier numbered among the affected banks.
UBA in a statement Tuesday said, “Our attention has been drawn to report of the ban of UBA from the foreign exchange market by the CBN over the non-remittance of NNPC/NLNG dollar deposits.
“We wish to state very categorically that UBA has completely remitted all NNPC/NLNG dollar deposits.
“We thank all our numerous customers, business partners and other stakeholders who have reached out to us on account of this report,” Mr. Charles Aigbe, Head, Corporate Communications, said in a statement.
The CBN had earlier on Tuesday announced the suspension of nine banks from all foreign exchange transactions until they remitted into the TSA over $2 billion in various NNPC/NLNG accounts in the banks as ordered by President Muhammadu Buhari last year.
