Citigroup and Zenith Bank face stiffest Nigeria penalties over credit targets
Central bank fines 12 banks in what analyst labels a negative signal to the market
03 October 2019 - 16:33
Lagos/Dakar — Citigroup and Zenith Bank face the stiffest penalties among a dozen lenders being punished by Nigeria’s central bank for failing to meet a target to provide more credit.
A combined sanction of 500-billion naira ($1.4bn) has been imposed on the 12 banks, according to a circular sent to the institutions and seen by Bloomberg...
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