Central Bank Of Nigeria Reinstates Nine Banks Suspended From Foreign Exchange Market

The Central Bank of Nigeria ( CBN ) has reinstated the nine banks that were recently suspended from the foreign exchange market. They were suspended last week for failing to remit about$ 2.3 billion funds of the Nigerian National Petroleum Corporation (NNPC) to the Treasury Single Account (TSA) of the federal government.

The CBN Director of Banking Supervision, Mrs. Tokunbo Martins, who announced the reinstatement in Abuja , Wednesday, explained that the apex bank took the decision after the banks presented repayments plans.

The banks are are: First Bank of Nigeria (FBN)- $469m; United Bank for Africa (UBA) -$530m; 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.

Oil—How It Affects You

HAVE you ever stopped to think what life for many would be like without petroleum and its products? Oil made from petroleum is used to lubricate motor vehicles, bicycles, strollers, and other things with moving parts. Oil lessens friction, thus slowing the breakdown of machine components. But that is not all.

Beyonce’s Good Genes

Beyonce’ s good looks are definitely good genes. Here’s a 20-year-old baby faced Bey at the Golden Globes in 2001 (left) and 15 years later ... the flawless singer -- who turns 35 this weekend -- at the MTV VMAs last week (right) .

An Overview of Indonesia

Land Straddling the equator between Australia and continental Asia, Indonesia is the world’s largest archipelago. Most of its more than 17,500 islands feature rugged mountains and dense tropical forests. With more than 100 active volcanoes, it is also the most active volcanic region on earth.

Rielyn Co

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