The Central Bank of Nigeria on Wednesday said it had imposed a total fine of N5.87bn on four banks for flagrant violation of extant laws and regulation. The apex bank announced the sanction in a statement issued in Abuja. The banks that were sanctioned are Standard Chartered – N2.4 bn, Stanbic IBTC – N1.8 bn, […]
Fresh facts have emerged on why the Central Bank of Nigeria (CBN imposed heavy sanctions totaling N5.87 billion on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank for helping MTN to repatriate $8,134,312,397.63 illegally. Standard Chartered was fined N2.4 billion, Stanbic IBTC Bank, N1.8 billion; Citibank, N1.2 billion, and Diamond Bank, N250 million. The CBN […]
© Reuters. Nigeria stocks lower at close of trade; NSE 30 down 0.52% Investing.com – Nigeria stocks were lower after the close on Wednesday, as losses in the Insurance , Food, Beverages & Tobacco and Banking sectors led shares lower. The best performers of the session on the NSE 30 were Skye Bank (LAGOS: SKYEBAN […]
The Nigerian Stock Exchange (NSE) kicked off this week’s trading with a 0.32% decline in the All Share Index at 35,311.36 basis point. The Market capitalization closed at N12.891 trillion. The gainer’s chart was led by Total Nigeria Plc, Flour Mills of Nigeria Plc, Lafarge Africa, Nigerian Breweries Plc and Guaranty Trust Bank with their […]
By Dipo Olowookere Activities at the local bourse finished bearish again on Thursday as result of losses recorded by counters in the banking sector. Late Wednesday, UBA and Access Bank finally released their much-awaited half year earnings and despite the impressive results churned out by the former, investors chose to react to the not-too impressive […]
The Nigerian stocks market fell by 0.44 per cent amid renewed profit taking activity in Industrial and Consumer Goods stocks, reversing previous day’s positive sentiment. The Nigerian Stock Exchange-All Share Index (NSE-ASI) shed 157.27 absolute points, representing a decline of 0.44 per cent to close at 35,358.94 points. Also, the market capitalisation declined by N57 […]
MTN Nigeria strongly refutes allegations and claims made by the Central Bank of Nigeria (CBN) regarding Certificates of Capital Importation. Reuters reports that Nigeria’s central bank said on Wednesday it had ordered South African telecoms firm MTN and four banks to bring $8.1 billion back into the country that MTN had illegally sent abroad in […]
Nigerian Stock Exchange Hopes for a bulls’ run dimmed yesterday, following renewed profit-taking by investors at the Nigerian Stock Exchange (NSE), as the bears took centre stage again on equity transactions, reversing the Tuesday’s positive sentiment, as market capitalisation depreciated by N57billion. Specifically, at the close of transactions yesterday, the All Share Index (NSE-ASI) shed […]
Nigeria’s central bank has ordered MTN to return $8.1bn back to the West African, reviving a conflict that was thought to have been resolved in 2017. The Central Bank Nigeria (CBN) alleges that the company has illegally repatriated $8.1bn between 2007 and 2015. MTN refutes the claims and it is assessing its options. The decision […]
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 The banks, according to the Apex bank, allegedly remitted foreign exchange with irregular Certificates of Capital Importation (CCIs) to offshore investors of MTN Nigeria Communications Ltd. Mr Isaac Okorafor, the […]
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