Tag Archives: Barred

Why CBN Barred Nine Banks From All Forex Transactions

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Determined not to tolerate any further breach of extant financial regulations, the Central Bank of Nigeria (CBN) has barred nine banks from all foreign exchange transactions.
The banks, as gathered this afternoon, were barred for failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the presidency last year.
The banks, whose suspension would remain in force until they remit all the funds to the TSA are United Bank for Africa (UBA) $530m; First Bank of Nigeria (FBN) $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).
The CBN sources said that further disciplinary actions awaited the erring banks after remitting the funds in full to the government’s coffers.
Credit: ThisdayLive

Women Not Allowed To Enter This Saudi Arabia Starbucks

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Women were banned from entering a Starbucks in Riyadh, Saudi Arabia, earlier this week after the religious police noticed the wooden wall used to separate men and women, known as a “gender barrier,” had been knocked down. Such partitions are present in all restaurants, even those in mall food courts, in Saudi Arabia. According to Emirates 24/7, the “gender barrier” had collapsed many times due to customer stampedes.

Arabic-language newspaper Al Weaam said Starbucks’ management was ordered to stop admitting women into the store. Now a sign on the door says, “PLEASE NO ENTRY FOR LADIES ONLY SEND YOUR DRIVER TO ORDER THANK YOU.”