The Central Bank of Nigeria (CBN) has imposed a fine of N4 billion on Skye Bank Plc for failing to render appropriate returns on accounts of some government institutions and agencies.
This is contained in a statement by Skye Bank to the Nigerian Stock Exchange (NSE).
The
bank said that the fine imposed by the apex bank was misdirected since
it did not conceal any information of the accounts from the central
bank.
Skye Bank said that significant portion of the money for which penalty was applied belonged to the state-owned energy company NNPC Pension Funds and National Assembly Legislative Aides account balances.
It
said that the sum of N40 billion for which the fine was imposed on it
came from NNPC account balances it had received a communication from the
oil giant excepting it from the Treasury Single Account (TSA)
operations.
Skye Bank said it received "a communication from the NNPC forwarding a letter from the Accountant General of the Federation on the treatment of NNPC funds.
"By
the communication, the bank is advised that an 18 business day window
had been granted by the Vice-President, Yemi Osinbajo, within which a
plan for the orderly withdrawal of the NNPC funds will be implemented’’.
The
statement said that Skye Bank had commenced engagement with the apex
bank with a view to bringing the issues to the attention of the banking
sector regulator and seeking a review of the penalty.
It
will be recalled that CBN recently sanctioned First Bank N1.87 billion
for refusal to remit about N37.55 billion belonging to the state-owned
energy company.
It also fined UBA N2.94 billion for concealing a portion of the energy corporation’s fund totalling N58.84 billion.
UBA was sanctioned for also refusing to remit the deposit of the energy firm into the TSA as at when directed.
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