Access Bank Sanctioned, Maduka Retires

The Central Bank of Nigeria, CBN, has sanctioned Access Bank Plc for violating the Banks and Other Financial Institutions Act, BOFIA, 1991 in 2011.This came as Dr Maduka Cosmas has retired from Access Bank’s Board of Directors.The apex bank, in the sanction, fined Access Bank N3 million for violating its rules and regulations on granting of loans.However, CBN disclosed that the issue at stake is