Tags: Wema Bank Fined N61.4m After breaching 7 Nigerian Laws

Wema Bank Fined N61.4m For Breaching Nigerian Laws

Wema Bank found itself on the wrong side of 7 Nigerian laws in 2023, paying penalties totalling N61.350 million in one year. This was revealed in the bank’s full-year 2023 financial statement, which showed that the lender contravened a cybersecurity law, a section of the Bank and Other Financial Institutions Act (BOFIA) 2020, the Central…