Nigeria: CBN Fines 4 Banks N5.87 Billion Over Foreign Exchange Illegal Deals

30 August 2018

The Central Bank of Nigeria (CBN) on Wednesday imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged irregularities

The banks, according to the Apex bank, allegedly remitted foreign exchange with irregular Certificates of Capital Importation (CCIs) to offshore investors of MTN Nigeria Communications Ltd.

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