We’ve fully remitted all NNPC/NLNG dollar deposits since August 2016-UBA

United Bank for Africa Plc (UBA) has denied allegation of not remitting NNPC/NLNG dollar deposits into Federal Government’s Treasury Single Account.
The bank in a statement signed by Group Head, Marketing & Corporate Communications United Bank for Africa Plc, Bola Atta said the bank fully complied with TSA remittance into government.
The statement read that: Our attention has been drawn to the order of the Federal High Court in Lagos directing that seven 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.
The bank categorically stated that it has fully remitted all NNPC/NLNG dollar deposits since August 24, 2016.
The bank emphasized that none of such funds are currently in the Bank’s books saying it action was further corroborated by a clearance memo published by CBN on its website on same date (http://www.cbn.gov.ng/Out/2016/CCD/UBAPress%20Statement240816.pdf).
We would like to thank all our customers, business partners and other stakeholders who have reached out to us on account of this judgement, UBA stated.