For contravening various guidelines, Stanbic IBTC Holdings Plc was slammed with fines by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

Stanbic IBTC was also penalised by the National Pension Commission (PenCom), taking the total monetary fine to N159 million.

Prime Business Africa noted that the amount was imposed on Stanbic IBTC for the financial year of 2022. The fine is below the N233 million the firm lost to penalties in 2021.

It was gathered that the CBN fined Stanbic IBTC N44.85 million for failing to... https://www.primebusiness.africa/stanbic-ibtc-fined-n159-million-for-earnings-misinformation-hoarding-export-proceeds-others/