CBN to review our $2.63bn penalty – Stanbic IBTC

The Central Bank of Nigeria has said it will review its decision on the $2.632bn regulatory fine it imposed on Stanbic IBTC Bank Plc on the basis of the Certificates of Capital Importation to MTN Nigeria Communications Limited. Stanbic IBTC Holdings Plc, in a statement to the Nigerian Stock Exchange on Monday, said the CBN confirmed that its banking subsidiary would not be debited for the $2.632bn, being the portion of the remittances the bank had made on the basis of the CCI. The Bank express its readiness to continually engage with the CBN and provide additional evidence in relation to the issues raised. Read more: