Log In

Four Banks In Nigeria & MTN Fined $8.1 Billion By Central Bank

Unic Press UK: The Central Bank of Nigeria has fined the MTN Group $8.134 billion (₦2.94 trillion) over funds the telecom giant illegally transferred to the overseas from its accounts via Nigerian banks – Stanbic IBTC, Citibank, Diamond Bank and Standard Chartered.

The four Nigerian banks indicted have been fined circa $15.6 million (₦5.7 billion). The Central Bank said that Certificates of Capital Importation (CCIs) were not properly issued; and the illegal transfer of funds to the overseas amounted to a violation of the subsisting laws of Nigeria, particularly the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 and the Foreign Exchange Manual, 2006.

Please follow and like us:
error
Tagged under

Leave a Reply

English Premier league table (live)

# Team MP W D L F A G P
1 AFC Bournemouth 0 0 0 0 0 0 +0 0
2 Arsenal 0 0 0 0 0 0 +0 0
3 Aston Villa 0 0 0 0 0 0 +0 0
4 Brighton & Hov… 0 0 0 0 0 0 +0 0
5 Burnley 0 0 0 0 0 0 +0 0
6 Chelsea 0 0 0 0 0 0 +0 0
7 Crystal Palace 0 0 0 0 0 0 +0 0