Business

Nigeria central bank debits Standard Chartered $7.9 million after moving MTN funds -sources

Isaac UmunnaComment(0)

Nigeria’s central bank has debited Standard Chartered 2.4 billion naira ($7.86 million) after it fined the lender for helping South Africa’s telecoms firm MTN to move funds abroad, two sources told Reuters on Thursday.

Standard Chartered, alongside Citibank Stanbic IBTC Bank and Diamond Bank, was fined last week after the central bank said it moved a total of $8.1 billion abroad with improper certificates for telecoms giant MTN.

Standard Chartered has denied any wrongdoing. ($1 = 305.20 naira). Reuters

Pix: Standard Chartered Bank, Nigeria HQ

Isaac Umunna

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