CBN Slaps Zenith Bank With N1.8bn Fine For Regulatory Breaches

Zenith Bank of Nigeria Plc paid penalties totaling N1.8 billion to the Central Bank of Nigeria (CBN), during the Half Year period ending June 2025, for non-compliance with Banking regulations.

Penalties imposed by the regulator include: N300 million imposed as a result of irregularity in cash disbursement, a N74 million penalty relating to late reporting of cybersecurity issues and N1.41 billion penalty relating to late reporting of cybersecurity issues.

The CBN under Governor Yemi Cardoso has made tighter corporate governance and regulation of the banks one of his key areas of focus, especially regarding banking regulations and foreign exchange.

Zenith Bank reported lower half-year (H1) profit compared to a year ago and took a hit to earnings from a jump in impairment charges, while a higher share count from rights issues led to Earnings Per Share (EPS) falling 29.6%.

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