We do not have funds belonging to NPA – First Bank

The management of FirstBank has debunked the rumour making the round that it has in its possessions funds belonging to the Nigeria Port Authority (NPA).

In a statement signed by its management and made available to the Nigeria Stock Exchange, the bank said “following the Federal Government of Nigeria’s directive on the implementation of the Treasury Single Account (TSA) and the subsequent CBN’s directive to the Deposit Money Banks (DMBs) to transfer all MDAs accounts to the TSA with the CBN, FirstBank has since complied and transferred all MDAs funds including that of the NPA to the designated TSA account.

“For avoidance of doubt and for the information of the general public, we do not have such funds in any of our accounts or deposit portfolio,” the statement added.