citizenisb:
Thereafter, the source said the CBN Director, Banking Supervision, Mrs. Tokunbo Martins, then wrote to the banks asking that they furnish it with information on any unremitted funds, after which it was established that FirstBank and UBA had failed to remit N58.8 billion and N37.5 billion respectively, leading to the imposition of the penalty of N4.819 billion on both banks.


The source explained that FirstBank and UBA were being recalcitrant by refusing to comply with the directive despite repeated efforts by the CBN to get them to transfer the concealed funds.


She however clarified that the concealment was not a reflection on their liquidity, as both banks are very liquid.



Please be careful on how much you have in these banks before they fold up suddenly on us!!

Your last sentence is not necessary though

have you seen the big dating celebrity website called Oyiom . Com

IyaIode:
Some sharp guys probably kept this money without the knowledge of management, hoping that someday everybody will forget about it.

Can you keep 1 billion without mana

Cbn is encouraging d banks by this pat on the back sanction.

Why not slam a minimum of 30% on the withheld funds and additional non monetary sanction for the violation?

IT'S ALL ABOUT PROFITABLE TRADEOFFS FOR D BANKS WITH SUCH "INSIGNIFICANT" SANCTIONS

IyaIode:
Some sharp guys probably kept this money without the knowledge of management, hoping that someday everybody will forget about it.

Can you keep 1 billion without management knowledge? Not to talk of NNPC money. It was a time bomb waiting to explode. The result is 5% charge. Not a good idea.

th is Ho ou banker encourage corruption

this is how our bankers encourage corruption

IyaIode:
Some sharp guys probably kept this money without the knowledge of management, hoping that someday everybody will forget about it.

That's impossible...

Jaideyone:
Good!!! now this is a Government that works.
a certain clueless fisherman gave a directive on TSA but no one complied

Change is here!!!

noted!

This story is 1-sided. The hunter continues to tell the story of the struggle in the jungle. The judiciary will surely give the lion its own voice in court.

FBN & UBA, what are you waiting for? Head to court today today!

In response, the bank chief executives said that they had a directive from the Accountant-General of the Federation to a Director in the CBN exempting some MDAs from transferring their funds to the TSA.

Why should the AGF be countering the president's directive? Buhari is just surrounding himself with corrupt officials; I doubt he will make any meaningful progress in fighting corruption if he continues to keep these guys; this is the main reason GEJ failed as president.

Desperation on the part of some MDAs to stow away some money for their corrupt wheeling and dealing.

drey076:
Good, no bank is above the rule

correct ur self fast!!!!

search for sasuwa blog

This govt is acting like a farmer who'd rather count the bean grains in his store WITHOUT planting more beans.
Meanwhile, isn't this separating the goat and the yam?
And what if the banks' side of the story is true? Money to be wasted in unnecessary court cases, etc.
Abeg o!
Just my thoughts.

so even the banks too....corruption in the Nigeria atmosphere

citizenisb:


http://www.thisdaylive.com/articles/tsa-cbn-fines-firstbank-uba-n4-82bn-for-concealing-nnpc-funds/223781/

Thank God!!!! These 2 banks are pain in the Ass!!!!! Am waiting for similar heavy penalty to be meted to DSTV and MTN by NCC

banks in nigeria are d ones encouraging corruption.no integrity in d banking industry anymore.u cant trust any of d staff again.is a pity

corporate thieves that have been deceiving us since inception

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Y first bank, UBA shud be dealt wiv more cos dey r always like dat. Big mumu bank

citizenisb:
Thereafter, the source said the CBN Director, Banking Supervision, Mrs. Tokunbo Martins, then wrote to the banks asking that they furnish it with information on any unremitted funds, after which it was established that FirstBank and UBA had failed to remit N58.8 billion and N37.5 billion respectively, leading to the imposition of the penalty of N4.819 billion on both banks.


The source explained that FirstBank and UBA were being recalcitrant by refusing to comply with the directive despite repeated efforts by the CBN to get them to transfer the concealed funds.


She however clarified that the concealment was not a reflection on their liquidity, as both banks are very liquid.



Please be careful on how much you have in these banks before they fold up suddenly on us!!

GTBank for life!!!

wahala dey

Warlord3000:
Lol...

Remove those government accounts and money you will see that the banks are just a bunch of buildings and nothing more...

Maybe now they will care for us more instead of doing yanga on top we genuine customers...

Time for real banking

Ouch....that hurt.

I love this buhari era , but one day our presido go commot for throne, who ever takes his place will start giving room for corruption, na my fear be dat

Jaideyone:
Good!!! now this is a Government that works.
a certain clueless fisherman gave a directive on TSA but no one complied

Change is here!!!

no let PDP sympathisers catch you look dey ran the country like supermarket business

Best business news of the week....

God bless CBN for the penalty we need more sanctions because first bank in particular steal peoples money for withdrawing from savings acct which contravene the rules savings acct world over.

aloeman15:
This govt is acting like a farmer who'd rather count the bean grains in his store WITHOUT planting more beans.
Meanwhile, isn't this separating the goat and the yam?
And what if the banks' side of the story is true? Money to be wasted in unnecessary court cases, etc.
Abeg o!
Just my thoughts.

Not exactly.

Because we are not earning as much money from oil like we used to do, the government is suddenly very interested in how much money it is actually making....hence the TSA.

Note that TSA was an initiative of GEJ's admin....which tells me that if PDP won the 2015 election, we would have been seeing the same behaviour from them too.

Oil price has fallen. We can no longer afford wasteage.

Well deserved fine!