July 20, 2017 / 3:59 PM / a year ago

Nigerian court orders lenders to remit $793 mln due to govt immediately -lawyer

LAGOS, July 20 (Reuters) - A Nigerian court has ordered seven local banks to transfer a total of $793.20 million due to the government immediately after the lenders withheld monies they collected on behalf of the state, a government lawyer told Reuters on Thursday.

Lenders collect grants, taxes and tariffs on behalf of the government which they remit to a single treasury account with the central bank following a policy in 2015 aimed at curbing corruption.

Reporting by Oludare Mayowa; Editing by Chijioke Ohuocha and Alison Williams

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