By Omoh Gabriel & Peter Egwuatu
LAGOS — The Central Bank of Nigeria, CBN, has sanctioned Access Bank Plc for violating the Banks and Other Financial Institutions Act, BOFIA, 1991 in 2011. This came as Dr Maduka Cosmas has retired from Access Bank’s Board of Directors.
LAGOS — The Central Bank of Nigeria, CBN, has sanctioned Access Bank Plc for violating the Banks and Other Financial Institutions Act, BOFIA, 1991 in 2011. This came as Dr Maduka Cosmas has retired from Access Bank’s Board of Directors.
The apex bank, in the sanction, fined Access Bank N3 million for violating its rules and regulations on granting of loans.
However, CBN told Vanguard, yesterday, that the issue at stake is not new. The CBN official said the said sanction was based on the examination the CBN carried out on the bank on September 30, 2011.
