The Central Bank of Nigeria, CBN on the 23rd of August 2016 has banned 9 Nigerian Commercial Banks from participating in Foreign Exchange Transactions.
The Commercial Banks were suspended for failing to remit funds from NNPC into the Treasury Single Account TSA.
Full List Of Banks CBN Banned From Foreign Exchange Transactions
See the list of the nine suspended banks and how much they failed to remit below:
- United Bank for Africa (UBA) -$530m
- 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
Please Note That The Banks CBN Banned From Foreign Exchange Transactions, The suspension will be lifted once they remit the NNPC funds into the Treasury Single Account TSA.
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