Sterling Bank was fined N218 million for breaching nine regulations of the Central Bank of Nigeria (CBN), the company’s annual financial statement for the period of 2022, released on Wednesday, revealed.
CBN fined Sterling Bank N62 million as payment for an infraction by defaulting bank under Nigeria Electricity Market Stabilization Facility (NEMSF).
The financial regulator also charged Sterling Bank N56 million for the late rendition of regulatory returns and N52 million fine for the risk-based supervisory report 2019 – 2020.
