Guaranty Trust Bank (GTBank) was fined N128.6 million by the Central Bank of Nigeria (CBN) for failing to meet several regulatory requirements.
Ripples Nigeria gathered that CBN fined GTBank for offences relating to failure in the Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) examination.
The financial institution was also penalised for infractions relating to CBN Prospective Employee Clearance Review, Consumer Protection Review, failure in the Risk Asset Examination and CBN Review infraction.
According to a statement breakdown in the lender’s financial record for the full year 2022 seen by Ripples Nigeria, GTBank was fined N20 million for failing the 2021 Risk Asset Examination.
The bank led by Miriam Olusanya also received a fine of N21.25 million for failing the 2021 Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) examination.
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