Management of Sterling Bank Plc has denied having any funds allegedly illegally kept by the National Petroleum Investment Management Services (NAPIMS) and Nigerian Petroleum Development Company (NPDC) contrary to the Federal Government’s Treasury Single Account (TSA) policy.
A statement by Henry Bassey, Chief Marketing Officer, Brand Management & Communications Group of the bank said: “Our attention has been drawn to reports in certain online publications of an order by the Federal High Court sitting in Lagos on Thursday 20th July 2017 mandating Sterling Bank Plc to remit the sum of US$46.5m (Forty Six, Million, Five Hundred Thousand United States Dollars Only) to a designated Federal Government Asset Recovery Account with the Central Bank of Nigeria.
“The sum in question supposedly represents undisclosed qualifying funds under the Federal Government’s Treasury Single Account (TSA) policy illegally kept by the National Petroleum Investment Management Services (NAPIMS) and Nigerian Petroleum Development Company (NPDC).
“We wish to state unequivocally that Sterling Bank does not hold any sum in any currency as a deposit from either of these entities.
