Determined not to tolerate any further breach of extant financial regulations, the Central Bank of Nigeria (CBN) has barred nine banks from all foreign exchange transactions.
The banks, THISDAY exclusively gathered this afternoon, were barred for failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the presidency last year.
The banks, whose suspension would remain in force until they remit all the funds to the TSA are:

United Bank for Africa (UBA) $530m;
First Bank of Nigeria (FBN) $469m;
Diamond Bank Plc ($287m);
Sterling Bank Plc ($269m);
Sky Bank Plc ($221m);
Fidelity Bank ($209m);
Keystone Bank ($139);
First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).

The CBN sources told THISDAY that further disciplinary actions awaited the erring banks after remitting the funds in full to the government’s coffers.

seunmsg:
Lalasticlala, do the needful.

seunmsg:
United Bank for Africa (UBA) $530m; First Bank of Nigeria (FBN) $469m; Diamond Bank Plc ($287m); Sterling Bank Plc ($269m); Sky Bank Plc ($221m); Fidelity Bank ($209m); Keystone Bank ($139); First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).


It is so unfortunate that these evil banks would deliberately refuse to remit a whooping $2.3bn in a period of acute forex shortage. Not even the economic challenges of the country or the free for all drop of the Naira could appeal to the conscience and patriotism of the management of these banks to remit this huge amount of money at a period when the country needs all the available dollars that can be gotten. I sincerely hope CBN and other relevant government agencies will impose more stiffer sanctions and punishment against the banks and their collaborators from NNPC.

Wadeoye:
Bankers are worse than politicians - they should be dealt with.

seunmsg:


http://www.thisdaylive.com/index.php/2016/08/23/no-nonsense-cbn-bars-eight-banks-from-all-forex-transactions-for-concealing-2-125bn-nnpc-funds/