According to a report by Vanguard, nine banks were barred for concealing $2.12 billion belonging to the NNPC, and failing to remit the funds into the TSA as directed by the Federal Government.
The banks, which suspension would remain in force until they remit all the funds to the TSA, are;
1. United Bank for Africa (UBA) ($530m)
2. FirstBank of Nigeria (FBN) ($469m)
3. Diamond Bank Plc ($287m)
4. Sterling Bank Plc ($269m)
5. Skye Bank Plc ($221m)
6. Fidelity Bank ($209m)
7. Keystone Bank ($139m)
8. FCMB ($125m)
9. Heritage Bank ($85m).
According to CBN officials, further disciplinary actions await the erring banks after remitting the funds in full to the government’s coffers.
It was learnt that CBN governor was in Lagos, yesterday, for a meetings with banks’ Managing Directors to brief them on the development and at the meeting, issues were raised concerning some of the banks that were not listed but it was later learned that further investigations on their transactions were to be carried out.
A top Central Bank source confirmed to Channels Television on Tuesday, that President Muhammadu Buhari had been briefed on the matter and the sanctions to be imposed on the defaulting banks.
According to apex bank, the nine banks remain barred from foreign exchange operations until they fully remit the NNPC funds into government coffers via the Treasury Single Account.
