The Central Bank of Nigeria has fined First City Monument Bank (FCMB), Fidelity Bank Plc and Wema Bank a whopping N514 million for failing to comply with regulations prohibiting customers from transacting in cryptocurrencies.
This pushes the total fines for contravening the CBN circular on cryptocurrency to a massive N1.315 billion for 6 Nigerian banks, based on data obtained by this online medium.
Recall that Nairametrics reported earlier that the apex bank fined three Nigerian commercial banks a total of N800 million for failing to comply with regulations prohibiting consumers from transacting in cryptocurrencies.
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