The Economic and Financial Crimes Commission (EFCC) on Wednesday, presented its second prosecution witness, PW2, Peter Ige, an Information System Auditor with Fidelity Bank. The witness revealed how four officials of Fidelity Bank defrauded the bank and its customers of N874 million within three days. In the ongoing trial of the quartet of Olusegun Babasola, … Read more
Parallex Bank, a commercial bank recently launched by Loveworld Nation (also known as Christ Embassy), assaulted freedom of the press on Monday when its agent caused the takedown of THE WHISTLER website for about four hours. Parallex Bank is the latest entrant into the commercial banking industry in Nigeria. Having launched on Friday, January 14, 2022, at … Read more
Wema Bank, one of Nigeria’s troubled lenders is battling heavy liquidity crisis despite distraction with the Davido ambassadorship curve. Wema Bank may have a serious challenge withstanding the shocks Nigeria’s fragile economy might throw up as it is currently struggling with a liquidity squeeze. It was gathered that the third-quarter financial result of the bank … Read more
Wema Bank, one of Nigeria’s troubled lenders is battling heavy liquidity crisis despite distraction with the Davido ambassadorship curve. The bank had in November 2021, splashed N1 million to musician, Davido, transgressing the Buhari regime’s ban on the microblogging site. “We heard your GOAT called our name. Well… #ALATgoals #ALATmakessmile. #30BG #30billiongang,” Alat, a digital … Read more
Abubakar Suleiman There is currently tension tinged with outrage in the camp of investors and shareholders of Sterling Bank Plc led by Abubakar Suleiman, as the shares of the bank dipped drastically in the 2021 financial year. If you invested N1 million in the bank’s shares at the beginning of the year 2021, you would … Read more
Olasupo Shasore P&ID scam: the EFCC has taken Olasupo Shasore a former Attorney-General of Lagos State in custody. Olaspo Shasore is being grilled by EFCC operatives over his roles in the Process & Industrial Development – P&ID scam. He had earlier been questioned by the anti-agency over the allegations against him. According to a reliable … Read more
Happy new month messages for December 2021 can be accessed here as curated by ENigeria Newspaper. A happy new month to you, your friends, and your family from Globaltimes Nigeria Being a new day of a new month, many expect good wishes from their friends, family members, and loved ones, hence, a need to compile … Read more
Unfortunately for Nigerian businessman, Ernest Azudialu-Obiejesi, chairman and chief executive officer of Nestoil Group, it has been one week, one trouble. Recall, weeks ago, the EFCC, swooped in on the businessman and sealed his expansive residence on Modupe Alakija Crescent, formerly known as Ikoyi Crescent. The ultra-modern property was marked with the anti-graft agency’s signature … Read more
EFCC moves against Nestoil boss, Ernest Azudialu-Obiejesi, over N20.3bn Unfortunately, it has been one problem after another for Nigerian businessman Ernest Azudialu-Obiejesi, chairman and chief executive officer of Nestoil Group. Remember how the EFCC raided the businessman’s enormous home on Modupe Alakija Crescent, formerly known as Ikoyi Crescent, a few weeks ago? The ultra-modern property … Read more
Nnamdi Okonkwo, the embattled former chief executive officer of Fidelity Bank Plc, who was indicted in a $115 million money-laundering scandal has been allegedly re-arrested by the official of Economic and Financial Crimes Commission (EFCC). Recall the EFCC under the watch of its former chairman, Ibrahim Magu, had arrested and charged Okonkwo before a Federal High Court, … Read more
Again, GTBank customers protest over fraudulent deduction of their money, hacking of accounts There is a commotion in the Ring Road branch of Guaranty Trust Bank (GTBank) to complain about the hacking of their accounts and undue withdrawal of funds from their account. One of the staff of the branch, while trying to pacify some … Read more
Nnamdi Okonkwo, the immediate-past chief executive officer of Fidelity Bank Plc and newly appointed group managing director of First Bank Holdings has debunked a report that he has been arrested by the Economic and Financial Crimes Commission (EFCC). Reports in the online media suggest that Okonkwo was picked up three days ago by the anti-graft … Read more
Court resumes trial of Petro Union Oil & Gas, officials over $15bn fraud The ongoing high-level criminal trial of the alleged Petro Union and Gas Limited fraud case is set to resume on 15th November at a Federal High Court in Lagos. According to the hearing notice issued recently by the court, the trial court … Read more
Crypto: Nigerian Youths Blast FCMB, Kuda Bank For Blocking Accounts Nigerian Youths drag FCMB and Kuda Bank into extinction for blocking their accounts with no legal backing. Globaltimesng reports that Nigerian Youths on various social media platforms especially microblogging platform, Twitter drag First City Monument Bank (FCMB) and Kuda Microfinance Bank into extinction over young … Read more
First City Monument Bank (FCMB) has put out an alert on accounts held by people between the ages of 18-30, asking staff to be on the lookout for money launderers and other criminal activities. An internal email cited by Brand Spur Nigeria titled “Compliance Advisory on Cryptocurrency Dealing/Transactions” is in furtherance of the Central Bank … Read more
As volume increases 7.7% By Nkiruka Nnorom Foreign investors’ apathy in the Nigerian stock market has led to a decline in the value of investments on the Nigerian Exchange Limited (NGX) in the first nine months of 2021, despite the increased volume of transactions reported by the exchange during the period. The investors committed N636.60 … Read more
Sea port By Godwin Oritse IN a bid to ensure that Nigeria benefits from the African Continent Free Trade Agreement, AfFTA, the management of the Nigerian Ports Authority, NPA, has commenced moves to reposition the nation’s seaports with a view to optimizing Nigeria’s trade interconnectivity with other African countries. Acting Managing Director of the Authority, … Read more
Founding President of Ultimate Destiny Uplifters Foundation, UDUF, Onitsha, Dr. Smart Ezuma, delivering his welcome address during the Under-45 Business Summit in Onitsha, Anambra State. From left: Coordinator Standard Organization of Nigeria, SON, Anambra State, Engr, Onopede Adeoye; Team leader, MIRSAL Micro Finance Bank, Mr Tochukwu Akunna; Director SME, department, Anambra State Ministry of Trade … Read more
The suspect, Eze Njoku The Benin Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Friday October 15, 2021 arraigned one Eze Njoku before Justice Okon Abang of the Federal High Court sitting in Warri, Delta State. Njoku was arraigned on a six-count charge bordering on retention of proceeds of crime. He is … Read more
By Yinka Kolawole Manufacturers, under the aegis of Manufacturers Association of Nigeria (MAN), has appraised the 2022 proposed budget of the Federal Government, harping on the need for synergy between monetary and fiscal policies to guarantee better performance. Director General, MAN, Segun Ajayi-Kadir, in a statement made available to Vanguard, said the positive points center … Read more
By Emma Ujah, Abuja Bureau Chief, Obas Esiedesa & Emmanuel Elebeke Capital Expenditure by the Federal Government would rise by 60 percent in four years if the N5.35 trillion proposed by President Muhammadu Buhari is passed by the National Assembly, from the N2.14 trillion passed in 2019. Aggregate capital expenditure of N5.35 trillion is 32.7% … Read more
First City Monumental Bank (FCMB) has been named among banks that removed N48.5 billion from customers’ Accounts as charges for maintenance in six months. Account maintenance costs are levied on all customer-initiated debit transactions, and the bank collects these fees at the time of the transaction. The amount debited is at least 10% of the … Read more
PC Financial Services Private Limited (PCFS) is currently embroiled in an ongoing money-laundering investigation in India. On August 26, the Indian police seized Rs 107 crore ($14 million) from PC Financial Services Limited (PCFS), a private loan company that provides instant microloans in India through a mobile app, CashBean. Chinese billionaire Yahui Zhou bought PCFS … Read more
Whitemoney has won the 2021 Big Brother Naija season 6 edition, themed ‘Shine Ya Eye’, leaving Liquorose as the first runner up. At the grand finale on Sunday, housemates evicted were Emmanuel, Angel, Cross, and Pere; leaving Whitemoney and Liquorose as the top two housemates battling for the N90m grand prize. Born Hazel Onou, the 29-year-old … Read more
Oladipupo Williams, a legal luminary and senior advocate of Nigeria is dead. According to Kunle, his son, Ladi, as he is fondly called, died in the early hours of Sunday from complications due to COVID-19. “My father passed away this morning from COVID-19 despite being double vaccinated with Oxford AstraZeneca,” Kunle said on his Facebook … Read more
Members of the dreaded Boko Haram terrorist group, on Saturday, attacked Damboa, the headquarters of Damboa local government area in Borno State. A security source disclosed that the insurgents invaded the town around 5pm. The source said shortly after the fighters stormed the town, the network went off, raising suspicion that they destroyed it. Troops … Read more
The police on Friday dispersed a group of protesters in Abuja, firing teargas at them, The Witness reports. The youths came out in their numbers on Friday morning all carrying placards which had the inscriptions #BuhariMustGo. They also carried a large banner with #RevolutionNow written on it while moving in the streets. The protesters also … Read more
The Chief Magistrate Court, Wuse Zone 2, Abuja has ordered Regent Microfinance Bank Limited, Abuja to pay the sum of ₦1,100,000.00 (One Million, One Hundred Thousand Naira) in damages to a customer of the Bank, Mr. Collins Unopah who trades under the name and style of Collazo Business Enterprises. The Court gave this judgment when Mr. Collins … Read more
