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Parallex Bank gets CBN’s approval for NESS Collection



Parallex Bank

The Central Bank of Nigeria (CBN) has granted its official endorsement to Parallex Bank for the collection of Nigeria Export Supervision Scheme (NESS) fees.

The 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.

In a circular signed by Dr. W.J. Kanya on behalf of the Director of the Trade and Exchange Department at the Apex Bank, it was revealed that Parallex Bank Limited has been added to the roster of approved banks authorized to collect NESS fees.

Dr. Kanya noted that this approval was granted under the auspices of the Minister of Finance, Budget, and National Planning, Mr. Wale Edun.

He called upon all authorized dealers and service providers to take note of this significant development.

Dr. Olufemi Bakre, the Managing Director of Parallex Bank Limited, expressed his satisfaction regarding this milestone. He encouraged all authorized exporters to leverage Parallex Bank’s extensive banking expertise and consider the bank as their preferred financial partner.

Bakre assured exporters of seamless services when it comes to paying their NESS fees and conducting various other transactions with the bank. He extended his appreciation to the CBN for recognizing Parallex Bank as a trustworthy partner in collaboration with the Federal Government.