• CBN re-admits UBA into forex market

    CBN re-admits UBA into forex market

    As managers of the nine banks sanctioned for withholding the Nigeria National Petroleum Corporation (NNPC) $2.1 billion move to negotiate with the Federal Government to resolve the controversy, the Central Bank of Nigeria (CBN), yesterday announced it has readmitted the United Bank for Africa (UBA) into the interbank foreign exchange market.

    According to Mrs. Tokunbo Martins, the Director of Banking Supervision, the move followed the remittance of all the outstanding NNPC/NLNG deposits in its possession to NNPC’s TSA account at the […]