CBN, NGX Group impose N530.9m sanctions on Jaiz Bank, others for failing AML regulations
The Central Bank of Nigeria (CBN) and Nigerian Exchange Group Plc have imposed a total of N530.9 million sanctions on Jaiz Bank Plc for failing to comply with nine banking sector and stock market rules and regulations.
The imposed sanctions in 2025 is 1.76 per cent of the N30.16 billion of profit after tax reported in the 2025 full financial year.
As seen by Western Post in the 2025 audited result and accounts, the non-interest bank contraventions vary from complying with CBN’s Anti Money Laundering (AML) regulation of 2022, and the Exchange late filing of results to investing public.
From the 2025 results, CBN imposed N75 million on Jaiz Bank for contravening the regulation 8(h) of the AML/CFT/CPF Regulation 2022 and N81 million penalty over the regulation 29(3) of the CBN AML/CFT/CPF Regulations 2022.
Jaiz Bank was also imposed N131 million based on the contravention of Regulation 17(2)(e) of the CBN CDD Regulations 2023 and N75 million for contraventing of Section 4.2 of the CBN guidelines on Targeted Financial Sanctions (TFS) for Terrorism and Terroism Financing 2022.
Other sanctions by CBN include: N131 million contravention of Regulation 34 (4) (c) of the CBN CDD Regulations 2023; N2 million contravention of Regulation for delayed payment – Section 50 of BOFIA, 2020; and N20million contravention of Section 19(5) of Bank and Other Financial Institution Act 2020.
The Exchange in 2025 imposed N9.6 million sanction on Jaiz Bank for failing to comply with the provisions of rule 1.1.5 : rules of filing of accounts and treatment of Default Filing of Nigeria exchange ltd;(93 days after regulatory due date) and N9.3 million penalty for late filing of the 2025 , Q1 UFS sixty-three days after regulatory due date
