Parallex Bank Gets CBN’s Approval for NESS Collection

Parallex Bank Limited, has announced that it has been granted approval by the Central Bank of Nigeria (CBN), 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.

The Bank quoted a circular signed by Dr. W.J. Kanya on behalf of the Director of the Trade and Exchange Department at the Apex Bank, which it said revealed it has been added to the roster of approved banks authorized to collect NESS fees.

Speaking on the approval, Managing Director of Parallex Bank Limited, Dr. Olufemi Bakre, 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.

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.