Parallex Bank has gotten the approval of the Central Bank of Nigeria (CBN) to collect Nigeria Export Supervision Scheme (NESS) fees.
The approval by the CBN was contained in a circular signed by W.J. Kanya on behalf of the Director of the Trade and Exchange Department at the apex bank.
In the circular, the bank was added to the list of approved banks authorised to collect NESS fees.
NESS Fee is a mandatory payment to the Federal Government for all legitimate goods exported from Nigeria, encompassing both non-oil and oil-based products.
Kanya noted that this approval was granted under the auspices of the Minister of Finance, Budget, and National Planning, Wale Edun, and called upon all authorized dealers and service providers to take note of this significant development.
Reacting, the Managing Director of Parallex Bank Limited, Dr. Olufemi Bakre expressed his satisfaction with the milestone and encouraged all authorised exporters to leverage Parallex Bank’s extensive banking expertise and consider the bank as their preferred financial partner.
Bakre went on to assure exporters of seamless services when it comes to paying their NESS fees and conducting various other transactions with the bank.
Parallex Bank transitioned into a commercial bank from a microfinance bank in early 2022. It opened five new branches across the country in September and revealed that 12 new branches will be opened before the end of the year.
