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BY SUNDAY SAMUEL The Legal Practitioners’ Privileges Committee (LPPC) has directed prominent lawyer Mike Ozekhome to stop using the title of Senior Advocate of Nigeria (SAN) pending the conclusion of disciplinary proceedings against him.
The decision was made in line with Paragraph 26(6) of the guidelines governing the award and regulation of the SAN rank. The measure will remain in force until the committee reaches a final decision on matters currently before its Disciplinary and Ethics Sub-Committee, as well as other related proceedings.
According to the LPPC, the action is intended to protect the honour, reputation and standing of the prestigious SAN designation while the issues under consideration are thoroughly examined.
As a result, Ozekhome is prohibited from portraying or identifying himself as a Senior Advocate of Nigeria until the disciplinary process is concluded.
The committee reaffirmed its dedication to promoting professionalism, ethical conduct and accountability within the legal profession, stressing the need to preserve public trust in the SAN institution.
Ozekhome was elevated to the rank of Senior Advocate of Nigeria in 2010, joining a group of 19 distinguished legal practitioners admitted to the Inner Bar that year.
The post LPPC Bars Ozekhome from Using SAN Title Amid Ongoing Ethics Review appeared first on Business Today NG.
Jaiz Bank Plc paid N530.9 million in regulatory penalties in 2025, almost twelve times the N45 million it paid in 2024, according to its 2025 annual report, which detailed sanctions imposed by regulators during the year.
The bank was sanctioned by the Central Bank of Nigeria (CBN) and the Nigerian Exchange Group (NGX) for breaches ranging from anti-money laundering and customer due diligence requirements to filing infractions.
According to the annual report, the largest penalties were two separate fines of N131 million each for violations of the CBN’s Customer Due Diligence Regulations in 2025.
In 2025, the bank breached the CBN’s AML/CFT/CPF Regulations 2022, resulting in total penalties of N156 million.
The lender was also sanctioned for contraventions of the Customer Due Diligence Regulations 2023, resulting in penalties totalling N262 million, while breaches of the Targeted Financial Sanctions Guidelines 2022 led to a N75 million fine.
Additional penalties arose from violations of Sections 50 and 19 of the Banks and Other Financial Institutions Act (BOFIA) 2020, resulting in combined sanctions of N22 million.
The report further disclosed penalties of N15.9 million imposed by the NGX for late filing obligations.
2024 penalties
Meanwhile, in 2024, Jaiz Bank paid a total of N45 million in regulatory penalties for breaches of foreign exchange regulations, corporate governance requirements, electronic payment guidelines, and the provisions of BOFIA 2020.
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According to the bank’s annual report, the largest penalty, N20 million, was imposed for a contravention of Section 29(5) of BOFIA 2020. Another N10 million fine was paid for violating Section 25(4) of the same Act.
CBN also sanctioned the non-interest lender for breaches of its foreign exchange regulations. The bank paid N4 million for contravening Memorandum 8(1) of the CBN Foreign Exchange Manual and an additional N2 million for violating Memorandum 5, Section 3(a)(i) and (ii) of the manual.
Jaiz Bank further incurred a N5 million penalty for breaching Section 1.5(g) of the CBN Guideline on Operations of Electronic Payment Channels in Nigeria.
The bank also paid N2 million for failing to comply with a CBN circular on the Business Standards and Development Assurance (BSDA) Directive and another N2 million for contravening the CBN Guidelines on the Governance of Advisory Committees of Experts for Non-Interest Financial Institutions.
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