Did CBN secretly remove Zenith bank from list of erring financial institutions?

The Central Bank of Nigeria (CBN) recently barred nine deposit money banks (DMBs) from the foreign exchange market for allegedly hiding over $2 billion belonging to Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA).

The CBN reached the decision on Tuesday, August 23, 2016.

However, Vanguard alleges that Zenith bank was removed from the list.

Here is the list of banks barred by CBN.

1. United Bank for Africa (UBA) -$530m

2. First Bank of Nigeria (FBN)- $469m

3. Diamond Bank Plc-$287m

4. Sterling Bank Plc-$269m

5. Sky Bank Plc -$221m

6. Fidelity Bank -$209m

7. Keystone Bank- $139

8. First City Monument Bank (FCMB) -$125m and

9. Heritage Bank-$85m

The CBN recently granted only three Money Transfer Operators (MTOs) - Western Union, MoneyGram and Ria - authorization to make transfers into the country.