10 Banks Get N7.02trn Fine Over CRR Violation   The Central Bank of Nigeria (CBN) in 2021 debited 10 banks a whooping N7.02 trillion over failure to meet the 27.5 per cent Cash Reserve Requirement (CRR) threshold. According to audited financial statements of these banks, the apex...

FG Earns N13.65m From Data Protection Fine, Report Filing       The Federal government has earned the sum of N13.65m from the data protection activities involving licensing, audit report filing and fine, according to the Nigeria Data Protection Regulation Performance report. As contained in the report published by...

Complaints: CBN Imposes N2m Fine, Others On Banks   Any bank that failed to acknowledge the complaints from depositors, will pay a fine of N2m, guidelines from the Central Bank of Nigeria, stated. Besides, each week the bank refused to address customer’s complaints within the prescribed timelines,...

Mambilla Project: Nigeria Risk Paying Fresh $2.3bn Fine   Nigeria may face another $2.3bn fine in arbitration in France over an alleged breach of contract on Mambilla Hydroelectric project. This is coming after a British commercial court awarded $9.6bn against the country in favour of Process and...

Seven Banks Pay N144.99m As Fine To Regulators In 2018 Seven banks quoted on the Nigerian Stock Exchange (NSE) paid N144.99 million as fines to regulators in 2018 for various contraventions. Investigations by the News Agency of Nigeria (NAN) indicated that the fines were paid to...

Azman Air Seeks FG’s Intervention Over $22m Fine   Azman Air Services Limited has approached the Attorney General of the Federal to intervene and stop the lessor, Triple Seven MSN 27251 Limited and Triple Seven (CIS) Limited, from seizing any of its aircraft over contract breach...