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N5.8bn Fine: CBN Debits 4 Banks Over MTN Funds​ - Business - Nairaland

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N5.8bn Fine: CBN Debits 4 Banks Over MTN Funds​ by yourtotalneeds: 9:06pm On Sep 07, 2018
The letter, signed by the Group Company Secretary, Chidi Okezie, and Acting Head, Marketing and Communications, Bridget Oyefeso- Odusami, stated in part: “Following our earlier announcement to The Nigerian Stock Exchange on 30 August 2018,

Contrary to speculation in some quarters that the Central Bank of Nigeria (CBN) might soften the sanctions it imposed on four banks for helping MTN Nigeria Communications Limited illegally repatriate funds, the apex bank has debited the lenders’ ac-counts with the huge fines it slammed on them for the violation, yourtotalneeds.com learnt yesterday The regulator had, last week, announced that it had fined Standard Chartered Bank N2.4 billion; Stanbic IBTC, N1.8 billion; Citibank, N1.2billion and Diamond Bank, N250 million for allegedly assisting the telecoms giant to illegally move $8.13 billion abroad. It also ordered the... continue reading here >> https://www.yourtotalneeds.com/2018/09/07/n5-8bn-fine-cbn-…-over-mtn-funds​/
Re: N5.8bn Fine: CBN Debits 4 Banks Over MTN Funds​ by Tunagee(m): 2:43am On Sep 08, 2018
yourtotalneeds:
The letter, signed by the Group Company Secretary, Chidi Okezie, and Acting Head, Marketing and Communications, Bridget Oyefeso- Odusami, stated in part: “Following our earlier announcement to The Nigerian Stock Exchange on 30 August 2018,

Contrary to speculation in some quarters that the Central Bank of Nigeria (CBN) might soften the sanctions it imposed on four banks for helping MTN Nigeria Communications Limited illegally repatriate funds, the apex bank has debited the lenders’ ac-counts with the huge fines it slammed on them for the violation, yourtotalneeds.com learnt yesterday The regulator had, last week, announced that it had fined Standard Chartered Bank N2.4 billion; Stanbic IBTC, N1.8 billion; Citibank, N1.2billion and Diamond Bank, N250 million for allegedly assisting the telecoms giant to illegally move $8.13 billion abroad. It also ordered the... continue reading here >> https://www.yourtotalneeds.com/2018/09/07/n5-8bn-fine-cbn-…-over-mtn-funds​/

Stupid and shameful! Great bank brands that are an accomplice in fraud. Not surprised, I think those banks are south African banks, and of course, diamond bank is the chairman of MTN bank. MTN is a thief too. If not for this present administration, they would have escaped with the crime. Thieves!

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