Fidelity bank banner UBA banner
MTN Scandal: CBN defends sanctions on indicted banks, reassures foreign investors

By News Express on 20/09/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,220

•CBN Headquarters
•CBN Headquarters

The Central Bank of Nigeria (CBN) on Wednesday defended the sanctions it recently imposed on four deposit money banks (DMBs) in connection with illegal fund transfers by MTN Nigeria.

“We wish to restate that the CBN will continue to welcome foreign investments and investors. Indeed, some of our recent innovations and reforms of the Foreign Exchange regime such as the introduction of the NAFEX window, are designed to simplify foreign exchange regulations. Furthermore, the delegation of the issuance of Certificates of Capital Importation (CCIs) to commercial and merchant banks some years ago was done to instill confidence in the investor community and encourage the flow of foreign direct and portfolio investments into the Nigerian economy,” the apex bank said in a statement signed by Isaac Okorafor, Director, Corporate Communications.

On the sanctions, CBN said: “The recent sanctions on the banks arose due to irregularities with respect to repatriations made on behalf of MTN Nigeria Limited and were not in any way designed to restrict access to investor returns.

“In response to the recent regulatory actions, the Banks and MTN are engaging the CBN and have provided additional information which is currently being reviewed with a view to arriving at an equitable resolution.

“We assure all investors that the integrity of the CCI regime remains sacrosanct and there shall be no retroactive application of foreign exchange rules and regulations.

“The CBN welcomes all legitimate investors to take advantage of the enormous investment opportunities in Nigeria.”

Source News Express

Posted 20/09/2018 09:58:20 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Zamfara Government stops 17 emirs from medical check-up:...

18 die as herdsmen, farmers clash

BREAKING: Soldiers rescue abducted Yobe schoolgirls inside bush...

Bayelsa PDP lashes APC, dismisses rumours of Supreme...

Boko Haram destroys Nigerian military base; 107 troops...

18 die in Kano flood disaster

Thank God APC won Osun governorship election —DSS...

Jonathan bows to pressure, approves forensic audit of...

Etisalat directors resign en masse

Kaduna Govt. approves compensation property owners sacked from...

Lenovo, Intel, Samsung, others take the lead on...

FG declares Friday, Monday public holidays to mark...

 

Latest News 2019: Bode George, other South-West leaders warn South-East leaders •Urge support for Atiku/Peter Obi ticket N2.97 billion not accounted for in 2016 audit: Report EFCC detains Fayose over N4.6b slush funds Red Cross begs Boko Haram to free Leah Sharibu, Alice Loksha Fayemi appoints COS, SSG, CPS VP Slot: Obi competent; South East Governors not against him — Gov. Umahi Boko Haram: Senate summons security chiefs Landslide destroys 40 buildings, historical sites in Cross River Court bars INEC, APC from disqualifying Zamfara candidates Hauwa’s execution by Boko Haram barbaric, totally unacceptable, says Adegboruwa We stand on Atiku/Obi ticket — South East former lawmakers NERC moves against abuse of estimated electricity bills

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (406,875 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,405 views) Shameless Genevieve Nnaji exposes breasts in public (314,783 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (257,001 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,425 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,298 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,093 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,569 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,140 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,875 views) Lagos plane crash: Journalist releases victims’ names (161,493 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,289 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,683) Business Verdict (52) Columnists (946) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,536) Interview (165) Live Commentary (28) Love Matters (145) News (39,677) Opinion (1,124) Pidgin (13) Politics (7,254) Religion (880) Sports (1,731) Stock Watch (35) AMA & Al Jazeera Global Update

 

Zenith Zero Balance

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement