Wednesday, November 11, 2015
- SKYE bank Plc: The bank has notified the Exchange that it received a letter dated November 6, 2015 from the Central bank of Nigeria (“CBN”) wherein the CBN imposed a penalty of N4bn on the bank for failing to render appropriate returns on some MDA moneys as required by the CBN’s communication dated October 14, 2015. The bank however has clarified that it did not at any time conceal any information from the CBN as adjudged in the letter. According to the bank, a significant portion of the deposits for which the penalty was applied are NNPC Pension Funds and National Assembly Legislative Aides account balances. These organs have since been confirmed by the CBN that they are exempted from the TSA based on the nature of their operations and amounts erroneously transferred to the CBN on them by some banks have been refunded. The bank has commenced engagement with the CBN with a view to bringing these issues to their attention and seeking a review of the penalty imposed and will continue to update the Exchange with developments on the matter.
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