First Bank Responds To Legal Dispute With General Hydrocarbons

First Bank of Nigeria Limited has described media reports alleging that it abused court processes in its legal battle with General Hydrocarbons Limited (GHL) as false and misleading. In a statement released on Tuesday, the bank clarified that it had fulfilled its obligations under the loan agreements. However, the dispute began when First Bank demanded good governance and transparency in the transactions—demands that GHL allegedly rejected. The statement emphasized that, as a responsible and law-abiding corporate entity with deep respect for the judiciary, First Bank will not comment on matters…

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CBN Fines Nine Banks ₦150million Each For ATM Cash Scarcity

The Central Bank of Nigeria (CBN) has sanctioned nine Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. The affected banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc. Each of the banks was fined ₦150 million for non-compliance, in line with the CBN’s cash distribution guidelines, following spot checks on their branches. According to the…

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