The United Bank for Africa has denied that it is one of the nine banks that failed to remit the dollar deposits of the Nigerian National Petroleum Corporation and the Nigerian Liquified Natural Gas Limited.

The Central Bank of Nigeria had on Tuesday listed UBA as one of the nine Banks that had failed to remit the deposits of the NNPC and NLNG based on the Treasury Single Account.
The CBN said it was suspending the banks from further participation in its foreign exchange market.
Other Banks listed as having committed the infraction were First Bank of Nigeria $469m, Diamond Bank Plc ($287m), Sterling Bank Plc ($269m), Sky Bank Plc ($221m), Fidelity Bank ($209m), Keystone Bank ($139), First City Monument Bank (FCMB) $125m and Heritage Bank ($85m).
But UBA denied its involvement in the infraction in a statement by its spokesman, Charles Aigbe.
It said: “Our attention has been drawn to report of the ban of UBA from the foreign exchange market by the CBN over the non-remittance of NNPC/NLNG dollar deposits.
“We wish to state very categorically that UBA has completely remitted all NNPC/NLNG dollar deposits.
“We thank all our numerous customers, business partners and other stakeholders who have reached out to us on account of this report,” Mr. Charles Aigbe, Head, Corporate Communications, said in a statement.