UBA re-admitted into FOREX Market

Posted by News Express | 25 August 2016 | 2,640 times

The United Bank for Africa (UBA) Plc has been re-admitted into the Foreign Exchange Market effective Thursday, August 25, 2016.

The Central Bank of Nigeria (CBN) announced this last night.

“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,” a statement signed by ’Tokunbo Martins, Director, Banking Supervision at the CBN, said.

The statement came on the heels of a public announcement by UBA, which said: “Further to our press statement of yesterday, we are pleased to inform our valued customers, stakeholders and business partners as well as the general public that the CBN has re-admitted us into the Foreign Exchange Market following our remittance of all NNPC/NLNG dollar deposits.

“UBA wishes to thank you all for your continued support and patronage.”

•Photo shows UBA GMD Kennedy Uzoka.

Source: News Express