Breaking: CBN Re-Admitted UBA Into Forex Market
Tokunbo Martins, Abuja: United Bank for Africa (UBA) re-admitted into FOREX Market
Further to the directive of the Central Bank of Nigeria (CBN) to all Deposit Money Banks (DMBs) to return all outstanding unremitted NNPC/NLNG foreign currency, this is to confirm that the United Bank for Africa (UBA) Plc has remitted all outstanding NNPC/NLNG deposits in its possession to NNPC’s Treasury Single Account (TSA) at the CBN.
Accordingly, the United Bank for Africa (UBA) Plc has been re-admitted into the Foreign Exchange Market effective Thursday, August 25, 2016
Recalled that at the beginning of the week CBN remove 6 commercial banks in Nigeria from FOREX market.