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Access, GT, UBA, FCMB, Fidelity Bank Fined N1.4bn by CBN

Business Journal
By Business Journal

Herbert Wigwe

Group Managing Director/CEO

Access Bank Plc

Access Bank Plc, UBA Plc, GT Bank Plc, Fidelity Bank Plc and First City Monument Bank (FCMB) Plc were fined over N1.4 billion in the first half of 2021 for various infractions/regulatory violations ranging from forex regulations and late filling of annual accounts amongst others by the Central Bank of Nigeria (CBN), Securities & Exchange Commission (SEC), Financial Reporting Council of Nigeria (FRCN) etc.

The fines are as follows:

  • GT Bank: N692 million
  • Fidelity Bank: N349.3 million
  • Access Bank: N185. 5 million
  • UBA: N278 million
  • FCMB: N162. 3 million
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