CBN Imposes N5.8billionn Fine On 4 Banks, May Close Them Down (See List) - Khorgist.com

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Thursday, 30 August 2018

CBN Imposes N5.8billionn Fine On 4 Banks, May Close Them Down (See List)

The Central Bank of Nigeria (CBN) has imposed a fine of N5.8bn on four commercial banks for breaching Nigeria’s forex regulations on MTN’s illegal capital repatriation.
Standard Chartered, N2.4bn

Stanbic IBTC, N1.8bn

Citibank, N1.2bn

Diamond Bank, N0.25bn

All the banks are to also refund a total of $8.134bn for breaching Nigeria’s forex regulations on MTN’s illegal capital repatriation.

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