... Seeking the Truth in Facts
Effective Wednesday, September 18, cash deposits and withdrawals from individual bank accounts are to attract addition charges, the Central Bank of Nigeria said on Tuesday. In a circular to all deposit money bank (DMBs), the Director, Payments System Management Department at the CBN, Sam Okojere, Read More …
DIVIDEND pay-out in banks rose 12.6 percent for their financial year ended December 2018 despite the dividend restriction policy introduced by the Central Bank of Nigeria, CBN. About nine banks scaled the CBN hurdle while four were caught napping. CBN Cadbury Nigeria shareholders approve N471m Read More …
Oluwatosin Omojuyigbe A customer relationship manager with First Bank of Nigeria Limited, Kehinde Adewuyi, was on Tuesday arraigned before the Igbosere Magistrates’ Court for allegedly converting the sum of N52,628,000 from his employer’s account to his personal use. The 36-year-old suspect was arraigned on Read More …
Central Bank of Nigeria (CBN) Liquidity problems with Nigerian banks have persisted as the last six months have not been easy. The trend of tushing to CBN for cash continues. The nation’s Deposit Money Banks have made frequent visits to the facilities’ window of the Read More …
To create ‘Black Book,’ share details among financial institutions Obinna Chima Tough times await chronic bank debtors as chief executive officers of financial institutions have resolved to create and maintain what they term a ‘Black Book’ for the compilation of details of loan defaulters that Read More …
Law and Order A 34-year old banker with Sterling Bank, Emmanuel Odoemena, who is under trial for an alleged theft of N4.46 million has been granted N500, 000 bail on Wednesday by an Ogudu Magistrates’ Court. Odoemena, whose address was not given in court, is Read More …
The Nigeria Deposit Insurance Corporation (NDIC) said it has set aside the sum of N258.767 billion in the 2019 fiscal year for the reimbursement of depositors in the unlikely event of closure of licensed banks. Giving a breakdown of the funds, managing director and chief Read More …
A former Minister of Petroleum, Chief Don Etiebet, has asked Justice Mohammed Liman of a Federal High Court in Lagos to nullify the merger between Access and Diamond Banks over alleged non-disclosure of vital information. The two banks, Securities and Exchange Commission (SEC) as well Read More …
M Ibrahim Magu, Acting EFCC Chairman The Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has alleged that recent discovery by the Commission showed that some foreign nationals sponsor terrorism through banks in the country. Magu also lamented that banks were being turned Read More …
EFCC Presents Fresh Evidence Against Akingbola The trial of Erastus Akingbola, a former Managing Director of the defunct Intercontinental Bank Plc, continued on April 5, 2019 with the Economic and Financial Crimes Commission, EFCC, presenting fresh evidence against him. Akingbola is standing trial on an Read More …