The Central Bank of Nigeria (CBN) fined Guaranty Trust Bank (GTBank) Plc, the sum of N692million in the first half of 2021.
Findings by WESTERN POST revealed that the apex bank sanctioned GTBank N692 million over foreign exchange transactions carried out by Betting and Gaming Companies and N2million for Non-refund of interest on debit of non-interest related charges to non-funded accounts.
From audited results of 2020 financial year, the CBN imposed a total sanction of N237million over three market infractions on GTBank.
The bank was sanctioned N186million for failure to conduct a spot check examination on domiciliary account balances of customers.
Also, the bank was sanctioned N81million and N6million for allowing customer to use foreign exchange sourced from official market for textile importation and failure to pass 2019 risk based examination findings respectively.