Standard Chartered Bank disputes indictment in $8.13tr illegal transfers

By Editor |   12 September 2018   |   3:35 am  

Standard chartered bank Nigeria

Barely two weeks after a Central Bank of Nigeria (CBN) report indicted Standard Chartered Bank Limited for illegal transfers, with a fine of N2.47b, the bank has declared its readiness to contest the findings, saying it is innocent.

The bank, which penalty for the alleged breaches had been deducted by CBN, described the apex bank’s indictment as ‘purported infractions’ and has sent a detailed response, in which it refuted all allegations of wrongdoing.

The development is coming a few days after Stanbic IBTC Bank Limited also claimed it was not guilty, while MTN Nigeria has gone to court, indicating that they were ready to challenge the alleged infractions.

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