Skip to content

Boldtweet

Sport, Tech, Politics and More.

  • Home
  • ENTERTAINMENT
    • AWARD WINNERS
    • Biography
    • Bio
    • ent
    • FORIEGN MUSIC LYRICS
    • GOSPEL LYRICS
    • Grammy Awards
    • LYRICS
    • NAIJA MUSIC
    • Niaja lyrics
  • Gaming
    • GAME MOD APK
    • Android Games
    • APK
    • Apps
    • APP MOD
    • PPSSPP
  • ISP
    • 9MOBILE
    • AIRTEL
    • DATA PLANS
    • GLO
    • MTN
  • POLITICS
  • SPORT
    • KITS
    • FIFA
  • General
    • Gadgets
      • APPLIANCES
    • crypto
    • GUIDES
  • PHONES
  • PHONES REVIEWS
  • TELECOM
  • Reviews
  • APPLE
  • GOOGLE UPDATE
  • ANDROID

CBN Penalizes 14 Banks With Huge Fines For Financial Failure. Check If Your Bank Is Among

Posted on 30/06/2023 By Confidence No Comments on CBN Penalizes 14 Banks With Huge Fines For Financial Failure. Check If Your Bank Is Among
LOCAL, NEWS

The Central Bank of Nigeria has demonstrated the power of its mace by penalizing 14 banks for failing to meet up with the required cash reserve of 27.5 per cent.

The apex bank gave a heavy blow to the deficient banks with various fines, ranging from N40 billion to N2 billion.

The bank took similar action in December when it hit the banks with a N170 billion fine for failing to meet up

The Central Bank of Nigeria (CBN) has issued a disciplinary measure against 14 banks for not meeting up to the required 27.5 per cent Cash Requirement obligation.

The apex bank cumulatively debited the 14 banks N356.1 billion for their failure to keep a minimum bank balance.

READ ALSO:   Fuel To Be Sold 1000 Naira Per Litre. See Why

The new debit happened last Friday, January 4, 2022, according to a ThisDay report and has left many in the banking sector very angry.

Zenith and Providus banks are the biggest hit by the penalty.

Available data shows that Zenith bank and Providus banks were the hardest hit while Fidelity Bank was the least debited by the CBN.

Zenith and Providus were debited N170 billion. FCMB got punished with N39 billion, First Bank saw N27 billion removed from its account, GT Bank N20 billion while Citibank had N12 billion removed by the CBN.

Stanbic IBTC, Union Bank and Polaris banks were debited N10 billion respectively while Keystone was penalised with N6 billion, Ecobank N5 billion, Sterling Bank, N3.6 billion and Fidelity and Nova Merchant banks were debited N2 billion each.

READ ALSO:   Good News As Sunday Igboho Is Scheduled To Be Released Today

This action by the CBN last happened in December when the banks were cumulatively debited N175 billion.

The CBN has issued a stern warning to banks not to starve Nigerians of funds especially during the festive periods. The banks flouted the order resulting in them being inflicted with heavy fines.

Recommended posts:

  1. SERMON: Accessing the deep things of God by Apostle Joshua Selman
  2. Union Bank USSD Code to check Account Balance
  3. Music: Emma Agirigi – Hossana Chant Remix ft. Owie Abutu, El Joe, Christy Kings & Kole Williams
  4. Music: Fred Odugboche – Chukwuoma (Praise Medley)
  5. DOWNLOAD: Tim Godfrey – Iyo
  6. Music: Abbey Ojomu – Holy Ghost
READ ALSO:   YAHOO LEADERS: N10.9bn Fraud: Court Jails Ex-Finbank MD, Nwosu, Three Others
Tags: CBN Finance Fines Godwin Emefiele Penalty

Post navigation

❮ Previous Post: NGO Exposes Stella Oduah, Ex-Aviation Minister, Reveals How She Has Been Embezzling Public Funds Using Empowerment Strategies
Next Post: See Police Reactions After Suspected Ritualists Were Dragged Out Of Police Station And Set Ablaze ❯

Leave a ReplyCancel reply

Top Posts

  • Music: Prophetic Ministrels Arise ft. Apostle Joel Ogebe - Oh Wretched Man
  • Download Latest GTA 5 Apk Obb Data Download For Android
  • WWE 2K22
  • Download: who am I(mortal man, Awesome God)
  • PUBG MOBILE GLOBAL 1.0.0 APK + OBB (32 & 64 bit)
  • Demon’s Souls
  • Download Need For Speed - Most Wanted Mod Apk Obb
  • Mixtape: Deejay Fairy - Warship Vol.2 (Kumama Papa)
  • Zuma Revenge
  • Toy Story 3 PSP – Toy Story 3 PPSSPP [Highly Compressed]

Recent Posts

  • Download First Touch Soccer 2022 – FTS 22 Mod Apk Obb Data
  • Mixtape: Deejay Fairy – Warship Vol.2 (Kumama Papa)
  • Call Of Duty PPSSPP Download
  • Power Warriors 15.0 APK MOD
  • Pokemon Go++ 2022 APK for Android
  • Dying Light 2 APK+Obb for Android

Categories


  • Home
  • About Us
  • Privacy Policy
  • DMCA
  • Contact Us

Copyright © 2023 Boldtweet.

Theme: Oceanly News by ScriptsTown