UBA Notifies of N2.9bn Penalty by CBN in respect of TSA Scheme

Regulators
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Friday 30th October 2015, 10.00.AM/NSE

We write to notify the NSE that we have received a letter from CBN notifying us of a penalty in the sum of N2.9bn being 5% of FGN MDA’s late remittance of N58.8bn balance as at October 15, 2015 in respect of the Treasury Single Account Scheme.

The Bank is engaging the CBN and will keep you updated with any developments.

Please be assured that the Bank as a responsible corporate citizen continues to ensure strict adherence to all regulatory stipulations and would at all-time do its utmost to meet the expectations of all its stakeholders.

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