The United Kingdom- based financial watchdog, Financial Conduct Authority, has fined the British subsidiary of Nigeria’s Guaranty Trust Bank 7.6 million pounds .
Furthermore, Reuters reported that the failures were highlighted by the bank’s internal and external sources. Guaranty Trust Bank did not dispute the FCA’s findings and opted for a settlement. Reacting to the matter, the bank disclosed that a settlement of 7.1 million pounds had been reached.
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