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Lenders kick as court orders seven banks to remit $793.2m to FG


Image result for federal high court of nigeriaThe Federal High Court in Lagos on Thursday ordered seven commercial banks to temporarily remit a total of $793.2m allegedly hidden by them in contravention of the Federal Government’s Treasury Single Account policy.

Justice Chuka Obiozor ordered the seven banks to remit the various amounts allegedly being kept illegally in their custody to the designated Federal Government’s asset recovery dollars account domiciled with the Central Bank of Nigeria.

The concerned banks are United Bank for Africa Plc, Diamond Bank Plc, Skye Bank Plc, First Bank Limited, Fidelity Bank Plc, Keystone Bank Limited and Sterling Bank Plc.

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