….. Witnesses Catalogue How He Stole Billions of Naira After what seems like a relief from his chains of legal battles home and abroad over allegations of fraudulent practices in his capacity as the Managing Director of the defunct Intercontinental Bank, Dr. Erastus Akingbola who was found guilty of stealing and diversion of billion of…
Men of the Nigeria Police Force have interrogated Chairman of Mainstream Bank, Mallam Falalu Bello, over his alleged involvement in a N2.6 billion fraud that occurred while he was the Managing Director of Unity Bank Plc. The banker was reportedly invited to Abuja on Wednesday for grilling by the Inspector General of Police Monitoring Unit…
Information at our disposal indicates that Diamond Bank may crumble if urgent steps are not taken to resolve a lingering leadership tussle presently going on in the financial institution. The bank has been in the news lately for the wrong reasons which is giving the management of the bank sleepless nights. It was gathered that…
As part of its contributions to the development of oil and gas sector in Nigeria, foremost commercial institution, First City Monument Bank, FCMB, has financed the set up of an ultra modern petroleum products tank farm, which has capacity to store about 45,280,000 litres of petroleum products. This laudable initiative, sponsored by Emadeb Energy Services…
A court in Lagos has sentenced a former banker identified as Jamiu Seun Odunayo to 115 years imprisonment. Odunayo was arraigned by the Economic and Financial Crimes Commission, EFCC, before Lagos High court sitting in Igbosere, presided over by Justice Adebisi Akinlade. Odunayo was convicted on Monday, February 17, 2014 with no option of fine…
Following commitments made in fighting money laundering, the management of one of Nigeria’s respected financial institutions, Heritage Bank, has been commended by the Association of Certified Anti-Money Laundering Specialists, ACAMS. The body hailed Heritage Bank for showing a practical commitment to anti-money laundering by employing one of the very few professionally-certified anti-money laundering experts of…
Two of Nigeria’s financial institutions, Heritage and Diamond banks are set to acquire Enterprise Bank, Aproko247 can report. Heritage bank is one of the fastest-growing banks in the country and as a way of expanding its operations and giving its services to more Nigerians, the financial institution is set to add Enterprise bank into its…
An employee of Union Bank, Akpojiyouwi Grace, has been remanded in prison by a Lagos High Court sitting in Ikeja over her role in a mega N450 million fraud. The accused was brought before Justice Babatunde Lawal-Akapo by the Economic and Financial Crimes Commission, EFCC, on Tuesday February 11, 2014 on one count charge bordering…
Union Bank, on Monday, sacked another 137 staff in continuation of the ongoing downsizing of its workforce as a result of the current reform in the banking sector. The affected staff were disengaged, following decision on outstanding disciplinary cases, while some were sanctioned for various acts of misdemeanour. Meanwhile, the bank has recruited another 150…
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…