Deposit Money Banks (DMBs) in Nigeria have been slammed with N6.73bn fines and penalties over alleged regulatory infractions among other defaults in the 2023 financial period.
The affected financial institutions are United Bank for Africa Plc (UBA), Stanbic IBTC, Guarantee Trust Holding Company Plc (GTCO), Fidelity Bank Plc, Zenith Bank Plc, First Bank of Nigeria Holdings Plc (FBNH) and Access Bank Holdings Plc.