Nigerian oil and banking tycoon Michael Prest wins again as St Kitts court voids his bank's $120,000 fine
Billionaires Africa | 09.06.2026 17:23
Nigerian oil trader and banker Michael J. Prest has secured another court victory against the regulatory apparatus of St Kitts and Nevis after the Eastern Caribbean Supreme Court of Appeal ruled on June 2 that the Regulator of International Banking had no lawful authority to impose fines and penalties totalling $120,000 against Bank of Nevis International Limited, the financial institution Prest has owned and operated from the Caribbean island since the late 1990s.
