Standard Chartered Bank Nigeria Limited has debunked reports that the bank is closing its branches in Nigeria.
“As this is a matter under legislative review between the Federal Government, the NNPC and other relevant parties, you will appreciate that we are unable to provide any additional information at this time.”had reported on Wednesday that the House of Representatives called for a forensic audit of the NNPCL to determine its assets and liabilities as well as its current market value.
The House stated that the audit was necessary due to the metamorphosis of the Nigerian National Petroleum Corporation into a limited liability company. Its Ad Hoc committee on NNPCL’s assets and liabilities in its report which was presented to the legislature on Tuesday, claimed that its findings showed that asset worth $64bn was unveiled by former President Muhammedu Buhari but during the transfer, only $58.8bn was transferred, leaving a balance of N2tn unaccounted for.
It then recommended that NNPCL should re-assess its accounting system, and stated that Standard Chartered Bank was closing its branches in Nigeria, which had NNPCL funds.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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