Jaiz Bank Faces N530.9 Million in Regulatory Fines for 2025

Jaiz Bank Plc paid N530.9 million in fines in 2025. This is almost twelve times the N45 million it paid in 2024. The information comes from its 2025 annual report, which shows penalties from regulators during the year.

The Central Bank of Nigeria (CBN) and the Nigerian Exchange Group (NGX) imposed these fines. The bank faced issues like anti-money laundering, customer due diligence, and other filing problems.

The report says the biggest fines were two separate penalties of N131 million each. These were for breaking the CBN’s Customer Due Diligence Regulations in 2025.

In 2025, the bank violated the CBN’s AML/CFT/CPF Regulations 2022. This alone led to fines totaling N156 million. The bank also faced penalties of N262 million for breaking the Customer Due Diligence Regulations 2023. There was a further N75 million fine for violating the Targeted Financial Sanctions Guidelines 2022.

Fines also came from breaking Sections 50 and 19 of the Banks and Other Financial Institutions Act (BOFIA) 2020. These violations resulted in combined penalties of N22 million. The report also mentioned penalties of N15.9 million from the NGX for late filing obligations.

In 2024, Jaiz Bank paid N45 million in fines for breaking foreign exchange rules, corporate governance requirements, electronic payment guidelines, and BOFIA 2020 provisions. The largest fine for that year was N20 million for violating Section 29(5) of BOFIA 2020. The bank also paid N10 million for breaking Section 25(4) of the same Act.

The CBN also fined the non-interest lender for foreign exchange violations. The bank paid N4 million for breaking Memorandum 8(1) of the CBN Foreign Exchange Manual. It also paid an extra N2 million for violating Memorandum 5, Section 3(a)(i) and (ii) of the manual.

Jaiz Bank faced a N5 million penalty for breaking Section 1.5(g) of the CBN Guideline on Operations of Electronic Payment Channels in Nigeria. They also paid N2 million for not following a CBN circular on the Business Standards and Development Assurance (BSDA) Directive. Another N2 million was paid for violating CBN Guidelines on the Governance of Advisory Committees of Experts for Non-Interest Financial Institutions.