For failing to remit funds from NNPC into the Treasury Single Account TSA, the Central Bank of Nigeria CBN yesterday barred 9 commercial banks from participating in 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
Heritage Bank-$85m
There suspension will be lifted once they remit the NNPC funds into the TSA
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