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Two of the banks – Fidelity and Sterling – last night defended their integrity, saying they were not involved in any TSA deal.

In a statement, Charles Aigbe, Divisional Head of Brand and Communications, said Fidelity Bank had no role.

The statement said: “Our attention has been drawn to media reports stating that Fidelity Bank illegally concealed $24.5m in contravention of the Federal Government’s Treasury Single Account (TSA) policy, citing court papers filed by the Office of the Attorney-General of the Federation at the Federal High Court in Lagos today (yesterday).

“Please note that at the commencement of the TSA policy all TSA related accounts held by the bank were fully disclosed to the authorities.... more

Admin Jul 21
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A Federal High Court in Lagos yesterday ordered seven banks to remit to the Federal Government $793,200,000 (about N249,659,700,000.00) allegedly hidden with them in breach of the Treasury Single Account (TSA) policy.

A vacation judge, Justice Chuka Obiozor, made the interim order following an ex parte application by the office of the Attorney-General of the Federation (AGF).

The judge warned that the remittance order would be made permanent on August 8, unless cause was shown why it should not.... more

Admin Jul 21
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