These are the banks barred by CBN from forex transactions

The Central Bank of Nigeria has released an updated list of 9 banks who failed to remit $21.2billion meant for the NNPC into the Treasury Single Account.

According to the apex bank, the erring banks will remain barred from forex transactions until they remit the monies with them.

The banks include 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; and Heritage Bank-$85m.

The apex bank’s decision to bar the banks comes two months after it released the highlights of the much awaited flexible foreign exchange market policy.

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