UBA denies reports of ban by CBN over TSA remittance

The United Bank for Africa (UBA) has denied reports that it has been banned by the Central Bank of Nigeria (CBN) over non-remittance of NNPC/NLNG dollar deposits.

In a press statement issued by the bank’s corporate communications head, Charles Aigbe, the bank stated: “Our attention has been drawn to report of the ban of UBA from the foreign exchange market by the CBN over the non-remittance of NNPC/NLNG dollar deposits.

“We wish to state very categorically that UBA has completely remitted all NNPC/NLNG dollar deposits. “We thank all our numerous customers, business partners and other stakeholders who have reached out to us on account of
this report.”