Zenith Bank Plc has paid a total of ₦1.8 billion in penalties to the Central Bank of Nigeria (CBN) during the half-year period ending June 2025 for various regulatory infractions.
Breakdown of the fines shows:
₦300 million for irregularities in cash disbursement,
₦74 million for late reporting of cybersecurity issues, and
₦1.41 billion also relating to delayed reporting of cybersecurity breaches.
The CBN, under Governor Yemi Cardoso, has intensified its crackdown on regulatory non-compliance, with a strong emphasis on corporate governance, financial transparency, and tighter oversight of the banking sector, especially in foreign exchange operations.
Meanwhile, Zenith Bank reported a decline in half-year profit compared to the same period in 2024, largely due to a surge in impairment charges. Additionally, a higher share count from rights issues dragged down its Earnings Per Share (EPS) by 29.6%.
