CBN Suspend Nine Nigeria Banks

By -

The banking industry, the Central Bank of Nigeria (CBN) yesterday barred nine banks from all for  eign exchange transactions for failing to remit the Nigerian National Petroleum Corporation’s (NNPC’s) $2.125 billion to the Federal Government’s Treasury Single Account (TSA) domiciled in the apex bank.
The banks, whose suspension would remain in force until they return all the funds to the TSA, are two tier-one banks and seven tier-two lenders. One of the banks, which also held some of these funds however, was said to  have escaped the banking watchdog’s hammer, as the lender, which had funds with the CBN, was able to remit its share of the funds through currency swap.
These funds in question, which are over $5 bil lion in the banking industry before it was reduced to $2.125 billion in May, are NNPC’s share from the Nigeria Liquefied Natural Gas (NLNG).
The nine bank Chief Executive Officers were said to have been summoned to a meeting in Abuja yesterday with the CBN Governor, Godwin Emefiele – where they were informed of the sanction.
But sources told New Telegraph that contrary to reports, that the lenders did not conceal these funds, pointing out that they had been having meetings with the CBN over the issue and agreed on a repayment

Comments

Post a Comment

Popular posts from this blog

BBNaija 2020: Vee reveals she almost had sex with Neo

By -
Image
Big Brother Naija housemate, Vee on Thursday night confessed to Laycon that she almost had sex with Neo. Vee who revealed this during a conversation with Laycon about her relationship with Neo, said she‘s surprised she has not had sex in the house because it’s been very difficult. She told Laycon they came close to having sex several times but he always stopped just before it escalated. Vee tells Laycon: “You need discipline not to have sex, it’s so hard not to have sex in this house.
Read more

Thugs Invade Ogbomoso Polling Unit

By -
Image
Armed thugs invaded Ogbomoso polling unit at Oke Ola Farm Settlement, Unit Four of Ogbomoso South Local Government Area of Oyo State, and carted away thumb-printed ballot papers in all the units in the area. Olamide Adewale, who made a distress call said, “Hoodlums armed to the teeth just invaded unit 4A in Oke Ola farm settlement here in Ogbomoso South local government and forcefully ferried away all the ballot boxes en route Ogbomoso/Oyo road. They went in Oyo direction,” he said. Reports also revealed that the ballot boxes at Ward 3 Unit 3 in Ibadan Northwest were snatched in the presence of security agents around 2pm.
Read more

2Baba Celebrate 20-years In Music industry

By -
Image
Music legend, 2face Idibia without a doubt has had a good run on the Nigerian music scene and he is grateful for how far he has come as he celebrates two decades on stage.  The  African Queen  hit maker took to Instagram to share an inspiring post about his journey in the music industry. The singer posted a video from his 10th year anniversary where some of his counterparts applauded his music prowess and humble nature. The post was accompanied with a message summing up his industry experience and also thanking his fans as he ushers them into a new phase of his career. “10-years, many memories, many stories. Some of them don grow, some don leave music, some don blow pass me, some don hammer pass me. But all na one love take make an happen.  20-years on, massive thanks to all that have supported and have made our music global. Special thanks to all our fans, una too much, welcome to the next chapter,” he wrote.
Read more