UBA Remits NLNG/NNPC Dollar Deposits into TSA

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The United Bank for Africa PLC (UBA) said it has remitted all dollar deposits belonging to Nigerian National Petroleum Corporation (NNPC) and the Nigerian Liquefied Natural Gas Company (NLNG) into the Single Treasury Account (TSA).
The Central Bank of Nigeria (CBN) had Tuesday suspended nine banks over failure to remit NLNG dividends amounting to $2.1 million into the TSA and consequently barred the financial institutions from all foreign exchange transactions.
uba md, uzokaA statement issued by UBA said full NNPC/NLNG dollar deposits had been remitted to the TSA.
“Our attention has been drawn to report of the ban of UBA from the foreign exchange market by the CBN over the non-remittance of NNPC/NLNG dollar deposits.
“We wish to state very categorically that UBA has completely remitted all NNPC/NLNG dollar deposits.
“We thank all our numerous customers, business partners and other stakeholders who have reached out to us on account of this report,” Head, Corporate Communications, Charles Aigbe, said.


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