The Nigerian Central Bank has given Parallex Bank permission to collect fees for the Nigeria Export Supervision Scheme.
The approval was granted in a circular signed by Dr. W.J. Kanya on behalf of the apex bank’s Director of the Trade and Exchange Department. Parallex Bank Limited was added to the list of recognized banks permitted to collect NESS fees in the circular.
The NESS Fee is a payment to the Federal Government that is required for any genuine items exported from Nigeria, including both non-oil and oil-based products.
Dr. Kanya reminded everyone who is a licensed dealer or service provider that this approval was given under the direction of the Minister of Finance, Budget, and National Planning, Wale Edun as he called on everyone to please take note of the significant development.
In response to the news, the managing director of Parallex Bank Limited, Dr. Olufemi Bakre, expressed his happiness with the achievement and urged all authorized exporters to make use of the bank’s wide banking experience and think of it as their preferred financial partner.
Bakre continued by assuring exporters of seamless services when it comes to paying their NESS fees and carrying out numerous other transactions with the bank.
Early in 2022, Parallex Bank changed from a microfinance bank to a commercial bank. It said that 12 more branches will open before the year is out after opening five new ones across the country in September.
The bank had achieved milestones in its short time of operation, according to Bakre, who recently announced the opening of its Marina Branch on Lagos Island.
He continued, “Technically, we have been open for less than two years, but despite our youth and youth, I am happy to inform you that the bank has not only broken barriers but is also on a path to profitability. We have over 100,000 customers as a bank, and this is just the beginning.”