Category: Business

Sterling Bank In N3.6b Fraud Scandal, Dupes Buhari's Son

One of Nigeria’s financial institutions, Sterling Bank, is presently swimming in a troubled water. The Razak Yemi Adeola-led 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 duped by Sterling…

Crisis Rocks Diamond Bank

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…

Ex-Skye Bank Staff Bags 115 Years Imprisonment

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…

Anti-Money Laundering: ACAMS Hails Heritage Bank's Doggedness

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…

N450m Fraud: Court Throws Union Bank Staff In Kirikiri Prison

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 In Slavery Mess, Sacks 137 Staff

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…