ENUGU, Nigeria (VOICE OF NAIJA)- The Central Bank of Nigeria (CBN), has officially authorized Parallex Bank to collect fees for the Nigeria Export Supervision Scheme (NESS).
This significant approval, as detailed in a circular signed by Dr. W.J. Kanya on behalf of the Director of the Trade and Exchange Department at the apex bank, designates Parallex Bank Limited as an approved institution for NESS fee collection.
The NESS Fee, a mandatory payment to the Federal Government of Nigeria for all legitimate goods exported from Nigeria, covering both non-oil and oil-based products, is now more accessible through Parallex Bank.
Dr. Kanya emphasized that this approval was granted in collaboration with the Minister of Finance, Budget, and National Planning, Wale Edun, and urged all authorized dealers and service providers to take note of this pivotal development.
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On his part, Dr. Olufemi Bakre, the Managing Director of Parallex Bank Limited, expressed his satisfaction with this milestone and encouraged all authorized exporters to consider Parallex Bank as their preferred financial partner.
He assured exporters of seamless services for paying their NESS fees and conducting various other transactions with the bank.
Meanwhile, in an interesting turn of events, Parallex Bank made a transition from a microfinance bank to a commercial bank in early 2022, and it has been expanding its reach.
The bank opened five new branches across the country in September and plans to launch an additional 12 branches by the end of the year.
During the recent launch of its Marina Branch on Lagos Island, Dr. Bakre proudly announced that the bank has achieved remarkable milestones in its short span of operation.
He said, “Technically, we are less than two years and irrespective of our newness and age, I‘m pleased to inform you that the bank has not only broken barriers, we are on a profitability path. As a bank, we have over 100,000 customers, and this is just the starting point.”