Sequel to failure to render appropriate returns on accounts of some government agencies and parastatals, Skye Bank Plc has been fined a whopping N4 billion by the Central Bank of Nigeria, CBN.
However, the bank in a statement to the Nigerian Stock Exchange (NSE) described the fine imposed on it as “misdirected” since it did not conceal any information of the accounts from the Apex Bank.
According to Skye Bank, the bulk of the money for which penalty was applied belonged to the NNPC Pension Funds and National Assembly Legislative Aides account balances.
Skye Bank claimed further that it had received a communication from the NNPC on its exception from the Treasury Single Account (TSA) operations.
“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 reads in part.
Skye Bank said it 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.
Recently, the Apex Bank had sanctioned First Bank N1.87 billion for not remitting N37.55 billion belonging to the NNPC and UBA N2.94 billion for concealing N58.84 billion also NNPC’s money.
