The CBN on Tuesday disclosed the identities of the eight deposit money banks (DMBs) that were allegedly hiding over $2.274 billion belonging to the Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA).
Here is a list of the eight affected banks, UBA which was on the initial list has fully paid its share and has been readmitted into the forex market
The CBN therefore barred these affected banks from forex market transactions.
First Bank of Nigeria (FBN) $469 million
Diamond Bank Plc ($287 million)
Sterling Bank Plc ($269 million)
Skye Bank Plc ($221 million)
Fidelity Bank ($209 million)
Keystone Bank ($139 million)
First City Monument Bank (FCMB) $125 million
Heritage Bank ($85 million).
It was learnt that many of the customers of the defaulting banks have been moving to lenders that have the capacity to access CBN’s funds for LCs transactions as they will be constrained in establishing new LCs until the resolution of the issue.