CBN agrees to meet banks, MTN over $8.1 billion transfers

The Central Bank of Nigeria (CBN) said it had agreed to negotiations proposed by MTN Nigeria and the four banks involved in the $8.13 billion transfers, which certificate of capital importations were adjudged fraudulent.

The apex bank said the engagement was sequel to the provision of additional information, which is currently being reviewed with a view to arriving at an equitable resolution.

Director of Corporate Communications Department, CBN, Isaac Okorafor, who disclosed this, said the apex bank acknowledged the public interest over the sanctions recently imposed on four deposit money banks (DMBs), but wished to restate that it would continue to welcome foreign investments and investors.

Meanwhile, the chief executive officer of an investment banking arm of a top five bank in the country, has dismissed any thought of backing off from the sanctions by the regulator, saying the move is needed to “double check” and assure foreign investors that it is not a pre-determined matter, but regulatory breaches.