NOVEMBER 6, 2015 — Zelda Akindele, Managing Counsel at Templars Law Firm, joins Esther Awoniyi, presenter of CNBC Africa’s Power Lunch West Africa for an interview, where she weighs in on the finance-related issue involving Stanbic IBTC Plc, Financial Reporting Council of Nigeria (FRC) and Central Bank of Nigeria (CBN).

Nigeria’s Financial Reporting Council gave Stanbic IBTC, the local unit of Standard Bank Group, 60 days to restate its 2013 and 2014 accounts because of what it said were “misleading” disclosures relating to expenses, and imposed a fine of 1 billion naira ($5mn). However, responding to the allegations, Nigeria’s central bank said it did not find “material misrepresentation” on the commercial lender’s past books and saw no need to ask it to restate accounts.