Africa’s foremost bank UBA has denied
allegations of its inability to remit proceeds from TSA into the Federal
account.
This is the press release from the
bank.
Our attention has been drawn to the
order of the Federal High Court in Lagos directing that seven (7) commercial
banks, including UBA Plc, temporarily remit a total of $793,200,000 allegedly
hidden in contravention of the Federal Government’s Treasury Single Account
policy pending the determination of the suit filed by the Attorney General of
the Federation on behalf of the Federal Government.
We wish to state categorically that
UBA has fully remitted all NNPC/NLNG dollar deposits since August 24,
2016. We hereby emphasise that none of such funds are currently in the
Bank’s books. Our action was further corroborated by a clearance memo published
by CBN on its website on same date (http://www.cbn.gov.ng/Out/
We would like to thank all our
customers, business partners and other stakeholders who have reached out to us
on account of this judgement.
Bola Atta
Group Head, Marketing & Corporate
Communications
United Bank for Africa Plc
Lagos - Nigeria
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Business