Banks are known for trust, honesty and confidentiality, which is why customers entrust funds to them. But when the safety of depositors’ money and financial details is in doubt due to the custodian’s unprofessional and fraudulent practices, customers loose funds unceremoniously. One financial institution that has proven to be a safe haven for fraudulent officials…
Category: Business
Lagos Govt Money 'Develops Wings' In Wema Bank
One of the old generation banks in Nigeria, Wema Bank, is presently in a mess and the reason is not far-fetched. Workers of the bank at Iponri, Lagos branch are still finding it difficult to understand how the sum of N6.5 million belonging to the Lagos State government suddenly developed wings and flew away from…
3 First Bank Staffers Arraigned For Theft
There employees of First Bank of Nigeria, FBN, have been arraigned before Chief Magistrate A Awogboro over the theft of N6.5 million from a customer’s account. Some people have regarded First Bank of Nigeria Plc as bank that breeds fraudsters. The three First Bank staffers were arraigned on Monday, January 27, 2014 on a 12-count…
EFCC After Diamond Bank MD, Alex Oti Over Fraud Mess
**Staffers In Robbery, Fraud Scandals One of the biggest headaches in the banking sector in Nigeria is tackling frauds. While some banks are already winning the war against external frauds, few banks like Diamond Bank, is still battling with its internal frauds. If the bank cannot win the battle against its internal fraud, what becomes…
Microsoft Nigeria Top Director, Emmanuel Onyeje In $ex Scandal
**Female Staff Drags Him To Court The National Industrial Court has awarded the sum of N39.6 million in favour of a former Enterprise Marketing Manager of Microsoft Nigeria Limited, Mrs Ejieke Maduka, who was sacked after she complained she was $exually harassed by her immediate boss. In a judgment delivered by Justice O Obaseki-Osaghae, the…
Gunmen Kidnap NAGAFF Boss, Demand N15m Ransom
The Chairman, Ports and Terminal Multiservices Limited, PTML, Chapter of the National Association of Government Approved Freight Forwarders, NAGAFF, Cosmos Ndimkora, has reportedly been kidnapped. It was gathered by Aproko247 that Ndimkora was abducted by some unknown gunmen around Umudede in Delta State. He was reportedly seized at gunpoint last week Thursday on his way…
DSTV’s Alleged Fraud: Group Writes Jonathan
A group called Delateur Foundation has written a petition against DSTV Nigeria for allegedly defrauding Nigerians through its bad services. The group, in a letter dated Monday, January 13, 2014, signed by its Chairman, ‘Yemi Adeyemi-Enilari, and addressed to President Goodluck Jonathan, lamented the way the pay TV outfit has allegedly been robbing Nigerians.…
Fear Grips First Bank Customers Over Alleged Takeover By Tinubu
If you bank with First Bank of Nigeria Plc, this is the time to be worried and start thinking of withdrawing all the money in your account. Information made available to theoctopusnews.com has it that the duo of All Progressives Congress, APC, chieftain Asiwaju Bola Ahmed Tinubu, and business mogul, Otunba Mike Adenuga, have both…
Forte Oil, Transcorp Begin 2014 With Entry Into NSE 30 Index
The Nigerian Stock Exchange (NSE) announced December 31, 2013, that Forte Oil plc (formerly AP plc), Nigeria’s foremost indigenous major marketer of refined petroleum products, and Transnational Corporation of Nigeria plc have been enlisted into the NSE 30 Index, a league of the Exchange’s most capitalised stocks, thereby commencing the new year as one of…
How Crisis-Ridden Diamond Bank Was Shut By Labour Union, Bank Turns Slave Den
The popular saying that thunder doesn’t strike twice in the same place does not seem to apply to the crisis which is rocking Diamond Bank presently. Because in the case of this bank, thunder can struck more than three times. Weeks back, when Mi5 reported a fraud in the bank, which took place in Osogbo,…