F

For all those happy about the fines, please note that the banks pay all these fines from income they make.

The income pays the salaries of their workforce who are Nigerians and mostly youth like us.

The day those banks are unable to sustain growth, they would think of cutting cost... staff cost gulps a lot of money.

Please let's not be quick to be happy when banks lose money. It endangers the jobs of the people who work there.

The labour market is real. There are not enough jobs to go round. Competition is stiff.

I must say, those bank staff who have work experience have better chances of securing another employment compared to the inexperienced youth rejoicing here about the fines.

MadCow1:
Hmmmmm!


First City Monument Bank - N177.09 million;

Fidelity Bank - N44.5 million;

Guaranty Trust Bank - N6.05 million;

Sterling Bank - N13 million;

United Bank for Africa - NN2.968 billion;

Union Bank - N46.28 million

Wema Bank - N8.087 million

and

Zenith Bank paid N60.1 million respectively.


These fines don't even appear to be enough for all the violations these banks commit on a regular especially Fidelity Bank.

I'm also shocked.

These fines are 'chicken change'

Imagine Union bank getting fined less than 20 million naira for money laundering and terrorism financing violations? WTF !!!!

FCMB's fine should have been rounded up to one billion naira. Non-reporting of suspicious translations, PEP violations . WTF!!!

Is it when a Nigerian Bank is linked with ISIS that CBN will impose more stringent fines and harsher penalties ?

efilefun:
They thought it was still the era of Ineffectual buffoon were they could get away with any atrocities committed without any punishment.

Could see some e-goats on the thread about PMB's agreement with the Chinese government on YUAN displaying their ignorance. They will surely wail about everything. Now our banks can boycott dollars and stack up YUAN, at least 1 Yuan is still 31 Naira. No more banks strangling the masses by the neck with their black market exchange rate for Dollars.

God Bless PMB/PYO
God Bless Nigeria
God Bless Everyone who believe in this govt
God Bless me and my Family

My sentiments exactly!!!

Diamond bank always adheres to all these monetary policies. Hard seeing their name come up in such lists....

Olukologia:
Like CBN like EFCC. All money recovered by EFCC hasn't bn used for any project. Ve neva heard of EFCC funded project. Same as CBN. #WhoNoSpoil4Naija

Mumu

How can you exhibit such foolishness publicly?

Next thing you will demand for is FIRS funded project or FRSC funded project or NCS funded project.

Are you aware that CBN, EFCC are all government parastatals and they are tasked with revenue generation which goes into the federal government coffers? These revenue is generated from fines, duties, etc and they are used by the government for the provision of social amenities, payment of salaries, etc or where do you think the federal government gets money from apart from the sale of crude oil

Breadfruit:
Diamond bank always adheres to all these monetary policies. Hard seeing their name come up in such lists....

Their "risk and compliance" department must be on point.

Buhari use them for his Private Ministry of Tourism.

marsoden:
Where are all these fines, recovered loots, going to?

that money should go into my account

What about Skye Bank that paid over N4bn because of non compliance with the TSA requirements

Ijaya123:
Hope CBN can do more to protect customers from arbitrary and illegal charges from these banks, just as they are strict with government money.

I wonder if this has any good effect on common men on the street. EFCC had been recovering loot since the first murderer in history killed his brother yet nothing to show. This will surely make no difference.

MadCow1:
Hmmmmm!


First City Monument Bank - N177.09 million;

Fidelity Bank - N44.5 million;

Guaranty Trust Bank - N6.05 million;

Sterling Bank - N13 million;

United Bank for Africa - NN2.968 billion;

Union Bank - N46.28 million

Wema Bank - N8.087 million

and

Zenith Bank paid N60.1 million respectively.


These fines don't even appear to be enough for all the violations these banks commit on a regular especially Fidelity Bank.

Thank God my banks are not among. Truly the First, and proudly Pan African.