The United Bank for Africa has denied that it is one of the nine banks that failed to remit the dollar deposits of the Nigerian National Petroleum Corporation and the Nigerian Liquified Natural Gas Limited.
The Central Bank of Nigeria had on Tuesday listed UBA as one of the nine Banks that had failed to remit the deposits of the NNPC and NLNG based on the Treasury Single Account.
The CBN said it was suspending the banks from further participation in its […]
The Central Bank of Nigeria (CBN) has said bank customers can now open accounts without deposits.
The directive is contained in the Monetary, Credit, Foreign Trade and Exchange Guidelines for Fiscal Years 2016/2017 guidelines posted by the CBN on its website.
Commercial banks usually demanded between N1,000 to N5,000 for savings accounts and N10,000 and above for corporate accounts.
The CBN said the new policy directive was in line with its commitment to encourage banks to improve their deposit mobilisation efforts while promoting […]