{"id":63868,"date":"2018-08-29T19:42:05","date_gmt":"2018-08-29T18:42:05","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=63868"},"modified":"2018-08-29T19:42:05","modified_gmt":"2018-08-29T18:42:05","slug":"forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/","title":{"rendered":"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank"},"content":{"rendered":"
\n
The Central Bank of Nigeria, CBN, says it has imposed heavy sanctions<\/div>\n<\/div>\n
\n
\n
totalling N5.87 billion on four banks under its regulatory purview and
\nasked same to refund the sum of $8,134,312,397.63 for what it described as
\n\u2018flagrant violation of extant laws and regulations of the Federal Republic
\nof Nigeria, including the Foreign Exchange (Monitoring and Miscellaneous
\nProvisions) Act, 1995 of the Federal Republic of Nigeria and the Foreign
\nExchange Manual, 2006\u2019.<\/p>\n

The four banks that have come under the sledge hammer of the CBN for the
\nviolations are Standard Chartered Bank, Stanbic-IBTC, Citibank, and
\nDiamond Bank.<\/p>\n

Announcing the decision in Abuja, on Wednesday, August 29, Isaac Okorafor,
\nCBN\u2019s director, Corporate Communications, said that the actions of the
\nBank became necessary following allegations of remittance of foreign
\nexchange with irregular Certificates of Capital Importation, CCIs, issued
\non behalf of some offshore investors of MTN Nigeria Communications Limited
\nand subsequent investigations carried out by the apex bank in March 2018.
\nThe CBN has therefore asked the managements of the banks and MTN Nigeria
\nCommunications Limited to immediately refund the sum of $8,134,312,397.63,
\nillegally repatriated by the company to the coffers of the Central Bank of
\nNigeria.<\/p>\n

Figures obtained from the CBN on Wednesday, August 29, indicate that the
\nhighest fine of N2,470,604,767.13 was slammed on Standard Chartered Bank,
\nwhile Stanbic IBTC Nigeria was fined the sum of N1,885,852,847.45. For its
\npunishment, Citibank Nigeria was penalized in the sum of
\nN1,265,541,562.31, just as Diamond Bank was directed to pay the sum of
\nN250 million for violating extant rules.<\/p>\n

Okorafor further disclosed that the decision of the bank followed thorough
\ninvestigations by it into the allegations of remittances by the four banks
\nof forex with irregular certificates of Capital Importation, CCIs, issued
\non behalf of some offshore investors of MTN Nigeria Communications
\nLimited.<\/p>\n

He said the investigations revealed that the sum of $3,448,119,321.72 was
\nrepatriated by Standard Chartered Bank on the basis of the illegally
\nissued CCIs. Similarly, he said the sums of $2,632,005,623.78,
\n$1,766,263,212.75 and $348,914,501.30 were repatriated by Stanbic IBTC
\nNigeria, Citibank Nigeria and Diamond Bank Plc, respectively, during the
\nperiod 2007 and 2015. Accordingly, he said the CBN had directed the
\naffected banks to immediately refund the respective sums to the CBN.<\/p>\n

The CBN investigation further revealed that on account of illegal
\nconversion of MTN shareholders\u2019 loan to preference shares (interest free
\nloan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally
\nrepatriated by the company.<\/p>\n

While disclosing that the investigations by the CBN took a while in order
\nto carry out thorough inquiry and give fair hearing to all parties
\ninvolved, Mr. Okorafor advised all banks and multinational companies in
\nNigeria to adhere strictly to the provisions of all extant laws and
\nregulations of Nigeria in their foreign exchange transactions. He warned
\nthat failure by the management of banks and companies to abide by the
\nexisting guidelines would be appropriately sanctioned, which sanctions may
\ninclude denial of access to the Nigerian foreign exchange market.<\/p>\n

Details of the Investigations<\/p>\n

CBN\u2019s letter to MTN says:<\/p>\n

Our investigation also revealed the following, among others:<\/p>\n

The shareholders of your company invested the sum of $402,590,261.03 in
\nthe company from 2001 to 2006;
\nThe investment was carried out through the inflow of foreign currency cash
\ntransfers and equipment importation, which was evidenced by the CCIs
\nissued by Standard Chartered Bank (SCB), Citi Bank (CB) and Diamond Bank
\n(DB);
\niii.\u00a0 \u00a0 \u00a0The CCIs issued at the time of the investment by the above banks
\nto your organization in respect of the $402,590,261.03 showed that
\n$59,436,923.44 was invested as shareholders\u2019 loan and $343,153,339.56 as
\nequity;<\/p>\n

However, a review of your organization\u2019s financial statements for the year
\nended December 31, 2007 revealed that $399,594,146.00 was
\nrecorded\/invested as shareholders\u2019 loan and $2,996,117.00 as equity
\ninvestment, in accordance with the shareholder\u2019s agreement but contrary to
\nthe CCIs issued by the banks in (iii) above;
\nFollowing a request by your organization through Standard Chartered Bank
\nfor CBN\u2019s approval to convert the shareholder\u2019s loan to preference shares,
\nan approval-in-principle was granted vide our letter dated November 13,
\n2007; with the grant of final approval made subject to the fulfillment of
\nthe following conditions by your organization.
\nImplementation of the decision in item 5B of your board resolution dated
\nNovember 08, 2007 and submission of documentary evidence to that effect to
\nthe Director, Trade and Exchange Department of the Central Bank of
\nNigeria; and
\nProvision of an undertaking that no remittance for either interest or
\nprincipal repayment would be made to the shareholders from the date of the
\nloan to the date they were converted to preference shares.
\nIn spite of the non-fulfillment of the conditions in (v) above and
\nconsequently, the non-issuance of a final approval by the CBN, your
\norganization converted the shareholders\u2019 loan to preference shares with
\nStandard Charted Bank issuing new CCIs in respect of the illegal
\nconversion;
\nvii.\u00a0 \u00a0 The action of your banker in aiding your organisation in the
\nillegal conversion of the shareholders\u2019 loan was later described by SCB in
\na letter to the CBN dated December 10, 2009 as an \u201cunintended omission\u201d;
\nand<\/p>\n

viii.\u00a0 \u00a0On account of the illegal conversion of your shareholders\u2019 loan to
\npreference shares (interest free loan) of $399,594,146.00, the sum of
\n$8,134,312,397.63 was illegally repatriated on behalf of your company by
\nthe aforementioned banks between 2007 and 2015.<\/p>\n

CBN\u2019s Letter to Standard Chartered bank says:<\/p>\n

Our investigation also revealed the following, among others:<\/p>\n

The shareholders of MTN Nigeria Communications Limited invested the sum of
\n$402,590,261.03 in the company from 2001 to 2006;<\/p>\n

The investment was carried out through the inflow of foreign currency cash
\ntransfers and equipment importation, which was evidenced by the CCIs
\nissued by your bank, Citi Bank (CB) and Diamond Bank (DB) at the initial
\nstage of the investment.<\/p>\n

iii.\u00a0 The CCIs issued at the time of investment by your bank along with
\nthe other banks in respect of the $402,590,261.03 showed that
\n$59,436,923.44 was recorded\/invested as shareholders\u2019 loan and
\n$343,153,339.56 as equity. This position was, however, contrary to the
\nposition in the financial statements of MTN Nigeria Communications Limited
\nfor the year ended December 31, 2007, which revealed that $399,594,146.00
\nwas invested as shareholders\u2019 loan and $2,996,117.00 as equity investment,
\nin accordance with the shareholder\u2019s agreement but contrary to the CCIs
\nissued by your bank, Citi Bank (CB) and Diamond Bank (DB). Your action in
\nthis regard constituted a rendition of false returns to the Central Bank
\nof Nigeria.<\/p>\n

Your bank subsequently applied to the CBN on behalf of MTN Nigeria
\nCommunications Limited for the conversion of the shareholder\u2019s loan to
\npreference shares, for which an approval-in-principle was granted vide our
\nletter dated November 13, 2007 with the grant of final approval made
\nsubject to the fulfillment of the following conditions by MTNN:<\/p>\n

Implementation of the decision in item 5B of MTN Nigeria Communications
\nLimited board resolution dated November 8, 2007 and submission of
\ndocumentary evidence to that effect to the Director, Trade and Exchange
\nDepartment of the Central Bank of Nigeria; and<\/p>\n

Provision of an undertaking that no remittance for either interest or
\nprincipal repayment would be made to the shareholders from the date of the
\nloan to the date they were converted to preference shares.<\/p>\n

In spite of the non-fulfillment of the above conditions in (iv) above and
\nconsequently, the non-issuance of a final approval by the CBN, your bank
\nissued new CCIs in support of the illegal conversion of the shareholders\u2019
\nloan to preference shares; an action that was later described by your bank
\nin a letter to the CBN dated December 10, 2009, as an \u201cunintended
\nomission\u201d; and<\/p>\n

On account of the illegal conversion of the shareholders loan to
\npreference shares (interest free loan) of $399,594,146.00, the sum of
\n$8,134,312,397.63 was illegally repatriated by your bank and the other
\nbanks on behalf of MTN Nigeria Communications Limited between 2007 and
\n2015.<\/p>\n

Other findings from our investigation included the following:<\/p>\n

Your bank issued three (3) CCIs outside the regulatory 24 hours without
\nthe approval of the CBN;<\/p>\n

In contravention of Memorandum 24 (ii) of the Foreign Exchange Manual,
\nwhich requires that CCIs should be transferred based on customer\u2019s
\ninstructions to a bank of the customer\u2019s choice along with the transaction
\nhistory of the CCI, you provided confirmation to two other banks, Citibank
\nand Diamond Bank, instead of transferring the CCIs to them as required by
\nthe Foreign Exchange Manual.<\/p>\n

The two banks on the strength of your confirmation subsequently remitted
\nvarious sums as dividend for MTN Nigeria Communications Limited at
\ndifferent times; and<\/p>\n

Your bank failed to issue a letter of indemnity to the CBN against double
\nremittance in respect of ten CCIs transferred by Diamond Bank and Citibank
\nto your bank as required under subsection 5(iii) of Memorandum 24 of the
\nForeign Exchange Manual.<\/p>\n

Upon the conclusion of the investigation, the Committee of Governors of
\nthe Central Bank of Nigeria met with the management of your bank and the
\nother banks as well as representatives of MTN Nigeria Communications
\nLimited in Lagos on May 25, 2018. This was to give all the parties fair
\nhearing, towards taking an informed decision on the matter.<\/p>\n

CBN\u2019s letter to Stanbic-IBTC says:<\/p>\n

Our investigation also revealed the following, among others:<\/p>\n

The shareholders of MTN Nigeria Communications Limited invested the sum of
\n$402,590,261.03 in the company from 2001 to 2006;<\/p>\n

The investment was carried out through the inflow of foreign currency cash
\ntransfers and equipment importation, which was evidenced by the CCIs
\nissued by Standard Chartered Bank, Diamond Bank and Citibank, out of which
\neight of the CCIs totaling $377,216,508.30 were transferred to your bank
\nby Standard Chartered Bank.\u00a0 Consequently, your bank repatriated the sum
\nof $929,051,331.83 as proceeds of divestment from the CCIs valued at
\n$42,704,408.61.<\/p>\n

iii.\u00a0 On account of the illegal conversion of the shareholders loan to
\npreference shares (interest free loan) of $399,594,146.00, the sum of
\n$8,134,312,397.63 was illegally repatriated by your bank and the other
\nbanks on behalf of MTN Nigeria Communications Limited between 2007 and
\n2015.<\/p>\n

Other findings from our investigation included the following:<\/p>\n

a). Your bank falsely reported thirty five CCIs valued $313,683,925.84
\ninappropriately as \u201cother purchases\u201d in your MTR 203 returns for February
\n2008 instead of \u201ccapital importation\u201d;<\/p>\n

b)Your bank issued eight CCIs of $58,359,616.67 in respect of foreign
\nexchange sourced locally as shareholders\u2019 loan. This constituted a
\ncontravention of the requirement of Section 15 of the Foreign Exchange
\n(Monitoring and Miscellaneous Provisions) Act, 1995 and Memorandum 20
\n(1.3) (iii) of the Foreign Exchange Manual, which stipulate that CCIs
\nshould only be issued on capital imported;<\/p>\n

c). Your bank issued eight CCIs for capital inflows in form of machinery
\noutside the 24 hours regulatory requirement of receipt of shipping
\ndocuments in contravention of paragraph 4.1.1 (IV) of the Monetary,
\nCredit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years
\n2012 to 2013;<\/p>\n

d) Your bank failed to issue a letter of indemnity to the CBN against
\ndouble remittance in respect of twenty CCIs transferred by Standard
\nChartered Bank to your bank as required under subsection 5(iii) of
\nMemorandum 24 of the Foreign Exchange Manual; and<\/p>\n

e) Your bank repatriated dividends totaling $905,260.20 in respect of CCIs
\nillegally issued on the strength of locally sourced capital.<\/p>\n

Upon the conclusion of the investigation, the Committee of Governors of
\nthe Central Bank of Nigeria met with the management of your bank and the
\nother banks as well as representatives of MTN Nigeria Communications
\nLimited in Lagos on May 25, 2018. This was to give all the parties fair
\nhearing, towards taking an informed decision on the matter.<\/p>\n

CBN\u2019s letter to CitiBank says:<\/p>\n

Our investigation also revealed the following, among others:<\/p>\n

The shareholders of MTN Nigeria Communications Limited invested the sum of
\n$402,590,261.03 in the company from 2001 to 2006;
\nThe investment was carried out through the inflow of foreign currency cash
\ntransfer and equipment importation evidenced by the CCIs issued by your
\nbank, Standard Chartered Bank and Diamond Bank;<\/p>\n

iii.\u00a0 The CCIs issued by your bank along with the other banks in respect
\nof the $402,590,261.03 showed that $59,436,923.44 was recorded\/invested as
\nshareholders\u2019 loan and $343,153,339.56 as equity at the time of the
\ninvestment. This position was, however, contrary to the position in the
\nfinancial statements of MTN Nigeria Communications Limited for the year
\nended December 31, 2007, which showed that $399,594,146.00 was invested as
\nshareholders\u2019 loan and $2,996,117.00 as equity investment, in accordance
\nwith the shareholder\u2019s agreement but contrary to the CCIs issued by your
\nbank, Standard Chartered Bank (SCB) and Diamond Bank (DB). Your action in
\nthis regard constituted a rendition of false returns to the Central Bank
\nof Nigeria;<\/p>\n

Your bank issued seven (7) CCIs to MTN Nigeria (MTNN) totaling
\n$42,126,803.04 that were subsequently transferred to Standard Chartered
\nBank Limited at the request of your customer (MTNN) on February 6, 2006,
\nwhich constituted part of the CCIs that were consequently irregularly
\nre-issued;<\/p>\n

Four of the CCIs issued by your bank evidencing the inflow of capital
\nimported as cash were issued outside the period of 24 hours allowed by
\nregulation upon the receipt of inflow, in flagrant contravention of
\nMemorandum 22 of the Foreign Exchange Manual;<\/p>\n

Your bank failed to comply with extant regulations on the issuance of
\nletter of indemnity to the CBN in addition to forwarding the transaction
\nhistory of the CCIs to the CBN, as provided in Memorandum 24(5)(ii)(b) of
\nthe Foreign Exchange Manual in respect of the CCIs received by your bank
\nfrom Standard Chartered Bank; and<\/p>\n

vii.\u00a0 \u00a0 \u00a0 Your bank purchased $535,000,000 on the basis of photocopies of
\nForm \u201cA\u201d bearing the name of Standard Chartered Bank as the applicant bank
\nand the referenced CCIs in contravention of Memorandum 24 (4) (a) of the
\nForeign Exchange Manual 2006.<\/p>\n

Upon the conclusion of the investigation, the Committee of Governors of
\nthe Central Bank of Nigeria met with the management of your bank and the
\nother banks as well as representatives of MTN Nigeria Communications
\nLimited in Lagos on May 25, 2018. This was to give all the parties fair
\nhearing, towards taking an informed decision on the matters.<\/p>\n

CBN\u2019s letter to Diamond Bank says:<\/p>\n

Our investigation also revealed the following, among others:<\/p>\n

The shareholders of MTN Nigeria Communications Limited invested the sum of
\n$402,590,261.03 in the company from 2011 to 2006;<\/p>\n

The investment was carried out through the inflow of foreign currency cash
\ntransfer and equipment importation, which was evidenced by the CCIs issued
\nby your bank, Citi Bank and Standard Chartered Bank;<\/p>\n

III.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0The CCIs issued illegally by your bank along with the other
\nbanks in respect of the $402,590,261.03 showed that $59,436,923.44 was
\nrecorded\/invested as shareholders\u2019 loan and $343,153,339.56 as equity.
\nThis position was, however, contrary to the position in the financial
\nstatements of MTN Nigeria Communications Limited for the year ended
\nDecember 31, 2007, which showed that $399,594,146.00 was invested as
\nshareholders\u2019 loan and $2,996,117.00 as equity investment, in accordance
\nwith the shareholder\u2019s agreement but contrary to the CCIs issued by your
\nbank, Citi Bank (CB) and Standard Chartered Bank (SCB). Your action in
\nthis regard constituted a rendition of false returns to the Central Bank
\nof Nigeria; and<\/p>\n

On account of the illegal conversion of the shareholders loan to
\npreference shares (interest free loan) of $399,594,146.00, the sum of
\n$8,134,312,397.63was illegally repatriated by your bank and the other
\nbanks on behalf of MTN Nigeria Communications Limited, within a period of
\nsix years.<\/p>\n

Other findings from our investigation included the following:<\/p>\n

a) Your bank issued three CCIs in favour of Dantata Investment for the sum
\nof $5million without converting the foreign exchange received into Naira
\nas required by our regulations.\u00a0 On the basis of these illegally issued
\nCCIs, your bank repatriated the sum of $102,545,336.77 in respect of these
\nCCIs;<\/p>\n

b)A further review of the CCIs also showed that no Form \u201cM\u201d was opened as
\nevidence of the utilization of the FX for the importation of goods (as
\n\u201cNot valid for FX\u201d) into the country;<\/p>\n

c)Your bank remitted the sum of $348,914,501.38 as dividend to MTN Nigeria
\nCommunications Limited offshore corporate shareholders without any
\ndocumentary evidence of the audited account of the company to justify the
\nbasis of the payment of the dividend declared and paid by MTNN. This
\naction was a violation of the provision of Memorandum 24(4)(b) of the
\nForeign Exchange Manual;<\/p>\n

d)Your bank failed to indemnify SCB for losses and\/or liabilities that may
\narise from the use of the CCIs you transferred to SCB in violation of the
\nprovisions of the Foreign Exchange Manual 2006;<\/p>\n

e)Your bank issued three CCIs outside the regulatory 24 hours without the
\napproval of the CBN contrary to provisions of Memorandum 22 of the Foreign
\nExchange Manual 2006; and<\/p>\n

f)Your bank illegally remitted the sum of $352,222,358.39 on behalf of
\nStandard Chartered Bank and Stanbic IBTC Bank in respect of the various
\nCCIs issued to MTN Nigeria Communications Limited.<\/p>\n

Upon the conclusion of the investigation, the Committee of Governors of
\nthe Central Bank of Nigeria met with the management of your bank and the
\nother banks as well as representatives of MTN Nigeria Communications
\nLimited in Lagos on May 25, 2018. This was to give all the parties fair
\nhearing, towards taking an informed decision on the matter.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria, CBN, says it has imposed heavy sanctions totalling N5.87 billion on four banks under its regulatory purview and asked same to refund the sum of…<\/p>\n","protected":false},"author":1,"featured_media":23167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-63868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nFOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria, CBN, says it has imposed heavy sanctions totalling N5.87 billion on four banks under its regulatory purview and asked same to refund the sum of…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-29T18:42:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"590\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank\",\"datePublished\":\"2018-08-29T18:42:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\"},\"wordCount\":2767,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg\",\"articleSection\":[\"Exclusive\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\",\"name\":\"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg\",\"datePublished\":\"2018-08-29T18:42:05+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg\",\"width\":590,\"height\":350},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/","og_locale":"en_US","og_type":"article","og_title":"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank - Pointblank News","og_description":"The Central Bank of Nigeria, CBN, says it has imposed heavy sanctions totalling N5.87 billion on four banks under its regulatory purview and asked same to refund the sum of…","og_url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/","og_site_name":"Pointblank News","article_published_time":"2018-08-29T18:42:05+00:00","og_image":[{"width":590,"height":350,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank","datePublished":"2018-08-29T18:42:05+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/"},"wordCount":2767,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg","articleSection":["Exclusive"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/","url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/","name":"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg","datePublished":"2018-08-29T18:42:05+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2014\/02\/cbn-590x350.jpg","width":590,"height":350},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/forex-fraud-cbn-sanctions-standard-chartered-stanbic-ibtc-citibank-diamond-bank\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"FOREX FRAUD: CBN Sanctions Standard Chartered, Stanbic IBTC, Citibank, Diamond Bank"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/63868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=63868"}],"version-history":[{"count":0,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/63868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/23167"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=63868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=63868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=63868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}