Stanbic IBTC Notifies of Regulatory Fine in Relation to MTN


Thursday, August 30, 2018 / 08:40 AM / NSE                                   

Stanbic IBTC Holdings PLC (a member of Standard Bank Group) has been informed by its banking subsidiary – Stanbic IBTC Bank PLC (the “Bank”) that penalties have been imposed on the Bank by the Central Bank of Nigeria (CBN) pursuant to a review of transactions relating to the remittance of foreign exchange on the basis of certain “irregular” capital importation certificates issued to MTN Nigeria Communications Limited.

The Bank is holding further engagements with the CBN, in relation to the issues it has raised. Please be assured that the above does not impact on your ability to continue to conduct your various business and corporate transactions with Stanbic IBTC Holdings or any of its subsidiaries, including the Bank.


Proshare Nigeria Pvt. Ltd.

Related News

1.       CBN Clamps Down on Four Banks; Writes MTN to Refund $8bn

2.      STANBIC Q2 2018 Results - Another Earnings Beat Sees a Rating Revision to “HOLD”

3.      STANBIC Declares N43.08bn PAT in Q2 2018 Results,(SP:N50.00k)

4.      STANBIC Announces the Resignation of Mr Ratan Mahtani as a Non-Executive Director

5.       Stanbic IBTC Holdings Plc Releases Notice on Q2 2018 Financial statements

6.       Stanbic IBTC Holdings Plc Announces its Closed Period

7.       ALERT: STANBIC Trades 70.97% of Total Market Volume Yesterday

8.       Stanbic IBTC Holdings Notifies On a Significant Share Acquisition

9.       Stanbic IBTC Holdings - No Change In View Given Underlying Q1 2018 Results

10.   Stanbic IBTC Directors Recommend 50 Kobo Dividend for Approval at the 6th AGM

11.   STANBIC Reports Q1 2018 Results – Operating Expenses Up by 47%

12.   STANBIC Releases Q1''18 Results; Declares N23.07bn PAT in Q1,(SP:N49.00k)

13.   Stanbic IBTC Holdings Q4 2017 Results Review -Strong Balance Sheet Growth to Support Future Earnings

14.   Stanbic IBTC Holdings Q4 2017 Results Review: Downgrading to Underperform

15.   Stanbic IBTC Holdings Plc 2017FY Conference Call and Earnings Presentation - The Key Takeaways

Related News