NEWS TAP: CBN beams searchlight on Ecobank over extortion attempt

“The Central Bank of Nigeria (CBN) has been informed of a high-profile extortion attempt involving senior executives of Ecobank Nigeria against a UAE-based company.”

“The Central Bank of Nigeria acts as the regulator and supervisor of Nigerian financial institutions such as Ecobank and their mandate involves ‘promoting a sound financial system’. It has been confirmed that the CBN has approached Ecobank as it investigates the case and could take action to stop this behaviour.”

“The claims of an extortion attempt by Ecobank Nigeria executives come at a sensitive time for ETI. Given that ETI plans to raise $600m of additional capital, they can ill-afford their largest subsidiary to be embroiled in a controversy.”

https://newstap.com.ng/cbn-beams-searchlight-on-ecobank-over-extortion-attempt/