By Valentine Amanze,Lagos
Fidelity Bank Plc has denied the alleged non-remittance of the NNPC/NLNG deposits.
It also appealed to its customers not to pannic because it was working towards resolving the issue with the Central Bank of Nigeria (CBN).
The management of the bank in a statement on Wednesday, August 24, 2016, pointed out that it reported the deposits to the CBN in line with the TSA requirements contrary to the erroneous view in the media that the funds were concealed from the regulators.
It stated that at the commencement of the Treasury Single Account (TSA) in 2015, the bank advised NNPC and the regulators with a schedule of repayment for the NNPC/NLNG dividend dollar deposits.
It however insisted that it repaid over $288 million of the funds in line with the advised repayment schedule.
Besides, it assured customers: “You can continue to operate your domiciliary account with Fidelity and this development will not affect your deposits/loans (local and foreign currency), remittances, transactional services and electronic banking services.
“Although the market condition remains quite challenging, we will continue to honour our obligations and operate with the highest level of corporate governance.
“In the interim, we are engaging with the other eight banks involved, stakeholders and the regulators to resolve this issue quickly and ensure our return to the FX market.”
It would be recalled that the CBN suspended nine commercial banks from forex market on Tuesday, August 23, 2016.