FBNH confirms imposition of penalty of N1.877 billion by CBN

Regulators
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Thursday 29th October 2015, 11.30.AM/NSE

The above subject refers:
In response to the widespread media reports on the above, we wish to cofirm and acknowledge the imposition of a fine of the sum of 1.877billion by the CBN on our subsidiary, First Bank of Nigeria Limited and declare that the fine has since been paid.

However the management of First Bank is still engaging in conversation with CBN on this regulatory decision.

Kindly be assured that the Bank and the entire FBN Group as responsible corporate citizen remain committed to values epitomized by strict compliance to the highest standards of ethics and corporate governance.

This is for your information and further action.

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