Britain’s financial services regulator said on Friday it had fined the UK subsidiary of Nigeria’s Guaranty Trust Bank (GUARANT.LG) (GUARq.L) 525,000 pounds for failing to have adequate controls to prevent money laundering. The Financial Conduct Authority (FCA) said that between May 2008 and July 2010, GT Bank UK had failed […]
Tag: Nigeria
Nigeria cbank debits 1 tln naira from banking system
 * Interbank rates spike by 7 percentage points * No visible effect on naira (Recasts with details, background) Nigeria’s central bank removed an estimated 1 trillion naira ($6.27 bln) from the banking system on Wednesday, causing interbank lending rates to spike by 7 percentage points from Tuesday’s close, but […]
IFC to issue up to $1 billion in Nigerian naira bonds
The International Finance Corporation will launch a $1 billion local currency bond programme in Nigeria that will allow it to issue debt regularly to fund infrastructure and other development projects, it said on Wednesday. The IFC, the World Bank’s private sector arm, said the programme would help deepen domestic capital […]
