Nigeria’s oldest financial institution, First Bank of Nigeria, FBN, has found itself in a N700 million court case. The respected bank was taken to court by the Copyright Society of Nigeria, COSON, on Tuesday over an alleged copyright infringement. In a suit No. FHC/CS/L/530/2014 filed before a Federal High Court in Lagos by counsel to…
Western countries have always seen the African continent as backward in every aspects. In the affairs of the world economy, the African continent does not have substantial representation, unlike the Asian continent, which has China and Japan. Despite the fact that some of these world players like China, the United States of America (USA) and…
One of Nigeria’s financial institutions, Ecobank Nigeria, has thrown its full weight behind the fight against oil pipeline vandalism in Nigeria, which has become a big headache to the Nigerian government and the security agencies in the country. The respected bank recently donated two Hilux vehicles to the Pipelines and Product Marketing Company, PPMC, in…
One of Nigeria’s financial institutions, Sterling Bank, is presently swimming in a troubled water. The bank has been accused of defrauding the son of former Head of State, Muhammadu Buhari, Muhammed, of the sum of N3.66 billion. According to a report by Global Village Extra, the younger Buhari was allegedly duped by Sterling Bank. Muhammed…
….. 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…