In a statement to customers on Tuesday after the Central Bank of Nigeria, CBN, barred it from accessing forex, Diamond Bank said it was trying to resolve the issue, describing it as a minor mix up.
The CBN on Tuesday suspended nine banks for their failure to remit $2.1 billion oil money to the apex bank.
The suspension means that Diamond bank and eight other banks will no longer be able to access dollars and other foreign currencies from the apex bank.
In a statement, Diamong Bank tried to cast it as a minor issue or mix up that will soon be resolved.
The bank said:
“The Central Bank of Nigeria recently announced a temporary suspension of nine commercial banks, including Diamond Bank, from accessing the foreign exchange market. This is related to the Treasury Single Account (TSA) directive, where banks no longer hold funds from government entities and instead remit to the CBN at the end of each day.
“As a financial institution built on a foundation of sound corporate governance, we have always made full disclosure of the outstanding TSA funds and have worked diligently to fulfill our obligations. We will continue to remit funds towards our commitments to the CBN, even under these challenging market conditions.
“We are engaging with relevant stakeholders, with the support of the Regulator, to resolve this industry-wide issue quickly. We understand the importance of helping our customers to find foreign exchange to help promote economic growth in Nigeria”.