HALISTER1: Sterling Bank of Nigeria Says Probed by Anti-Graft Agency

Sterling Bank of Nigeria Says Probed by Anti-Graft Agency

(Bloomberg) -- Nigeria’s Economic and Financial Crimes Commission visited Sterling Bank May 4, lender says in statement published on Nigerian Stock Exchange website.
  • EFCC has questioned “senior management staff including the CEO of the bank”
  • Investigation related “to the banking relationship of a non-bank financial institution that is a client of Sterling Bank”
  • Client purchased loans which are of concern to EFCC
  • Sterling Bank “has commissioned a review of the compliance procedures of its non–bank financial institution clients”
  • Lender “will not accept any new non-bank financial institution relationships” in the interim
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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STERLNBA NL (Sterling Bank PLC)

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