The Central Bank of Nigeria (CBN) has imposed a N1.88 billion fine on First Bank of Nigeria Plc. This was disclosed by the FBN Holdings which said that the bank, one of its subsidiaries, was fined over the issue of Treasury Single Account announced by the Federal Government.
The FBN Holding also revealed that the fine had since been paid, adding that the management of First Bank is currently engaging in discussion with the CBN on the issue by the regulatory body.
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