CBN Deducts N5.87bn Fine From Banks

The Central Bank of Nigeria (CBN) on Thursday effected the fine on four banks that breached its capital importation policy to the tune of N5.87 billion. CBN debited the account of Standard Chartered Bank with N2.4 billion, Stanbic IBTC N1.88 billion, Citibank Nigeria N1.2 billion and Diamond Bank N250 million for allegedly issuing irregular Certificates of Capital Importation (CCI) on via IFTTT