List of Banks Suspended from FOREX by CBN.
The Central Bank of Nigeria, CBN, yesterday, suspended nine banks from further dealing in foreign exchange transactions, until they remit all outstanding Nigerian National Petroleum Corporation, NNPC, funds in their vaults into the Treasury Single Account, TSA. See Full list of suspended banks below:
READ ALSO: THIS IS WHY CBN SUSPENDED 9 BANKS FROM FOREX
The circular addressed to the Director, Banking and Payments System Department of the CBN, with FD/LP2015/C/ADC/20/1/ /DF as reference number, was dated September 14, 2015. It was signed by M. K. Dikwa for the Accountant-General of the Federation, Federal Ministry of Finance, Funds Department, Abuja. The banks, which suspension would remain in force until they remit all the funds to the TSA, are:
- United Bank for Africa (UBA) ($530m);
- FirstBank of Nigeria (FBN) ($469m);
- Diamond Bank Plc ($287m);
- Sterling Bank Plc ($269m);
- Skye Bank Plc ($221m);
- Fidelity Bank ($209m);
- Keystone Bank ($139m);
- FCMB ($125m) and
- Heritage Bank ($85m).