The Central Bank of Nigeria (CBN) has imposed penalties totalling N15bn on 29 banks for violations, including breaches of Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) regulations.
Governor Olayemi Cardoso, in a keynote speech at the Chartered Institute of Bankers of Nigeria (CIBN) annual dinner in Lagos, described the sanctions as part of efforts to address compliance lapses and strengthen regulatory accountability within the financial sector.
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