Diamond bank Notifies of Regulatory Fine in Relation to MTN

Proshare

Thursday, August 30, 2018 06:12PM / NSE

We wish to notify the Nigerian Stock Exchange (NSE) and the public of a fine of N250,000,000.00 (Two Hundred and Fifty Million Naira Only), imposed on Diamond Bank by the Central Bank of Nigeria (CBN), following its investigation on foreign exchange remittances on behalf of MTN Communications Nigeria Limited. This follow yesterday’s (Wednesday 29th August) announcement by the CBN on the matter.

We note that these foreign exchange transactions occurred between 2001 and 2006 and currently, we are co- operating with the apex regulator to ensure that this matter is resolved. This development does not impact your ability to continue to do business with the Bank. Updates on any new development will be made available to all stakeholders.

We want to assure all stakeholders that the Bank complies with all regulatory policies issued.


Proshare Nigeria Pvt. Ltd.

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