The Central Bank of Nigeria has fined four banks - Diamond Bank, Citi Bank, Stanbic IBTC and Standard Chartered - for remitting irregular Certificates of Capital Importation to offshore investors of MTN Nigeria Communications Ltd, totalling U.S.$16,3 million, between 2007 and 2015.
Central Bank Sanctions MTN, 4 Banks, Wants $8.13bn Refund
Premium Times, 29 August 2018
The Central Bank of Nigeria (CBN) on Wednesday wielded the big stick on mobile telecom firm, MTN Nigeria Communications Limited, and four commercial banks for alleged financial… Read more »
Central Bank of Nigeria.
Serial Fraud Uncovered in Four Banks
Guardian, 30 August 2018
Four commercial banks have been sanctioned by the Central Bank of Nigeria (CBN) for various forgeries in foreign exchange transactions between 2007 and 2015. For these infractions,… Read more »
CBN Fines 4 Banks N5.87 Billion Over Foreign Exchange Illegal Deals
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 Read more »
The mobile network has denied allegations of improper repatriation of money out of Nigeria, saying the claim was without merit. Read more »
The Nigeria Labour Congress has accused MTN Nigeria of unfair labour practices. The embattled telecoms company called on government and law enforcement to intervene against ... Read more »
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