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
