By InvestAdvocate Lagos (INVESTADVOCATE)-Africa’s global bank, United Bank for Africa Plc said on Thursday it has received a letter from the Central Bank of Nigeria (CBN) notifying it of the N2.9 billion penalty. The letter dated October 28, 2015 and signed by Bili Odum, group company secretary of UBA was […]
Frauds & Scandals
Moody’s lowers MTN’s rating outlook to negative on $5.2 bln Nigeria fine
Thu Oct 29, 2015/Reuters Moody’s rating agency changed the outlook on MTN Group’s credit ratings to negative on Thursday, citing the potential impact of a fine by the Nigerian telecoms regulator on the South African mobile operator’s finances. Shares in MTN have dropped 19 percent so far this week, hitting […]
TSA: First Bank pays N1.877bn fine to CBN
FBN Holdings Plc, the parent company of First Bank of Nigeria Limited, on Thursday confirmed to the Securities and Exchange Commission that it had paid the sum of N1.877bn as fine to the Central Bank of Nigeria for violating the Federal Government’s Treasury Single Account policy. FBN Holdings, in a […]
