Tiger Spices

Tiger Spices


Tuesday, 23 August 2016

CBN bans 9 Banks from FX market for aiding NNPC’s TSA breach

Nine Deposit Money Banks (DMBs) have been banned by the Central Bank of Nigeria  (CBN) from the foreign exchange market, for hiding over $2 billion belonging to Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA).

President Muhammadu Buhari has been briefed on the breach by the banks, and they have all been mandated to move the monies to the  treasury single account.

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