Home » Archives by category » Bank / Banking Security (Page 2)

SEC To Penalise Banks For Charging e-Dividend Registration Fees

SEC To Penalise Banks For Charging e-Dividend Registration Fees

Securities and Exchange Commission, SEC, is to penalise Deposit Money Banks and Capital Market Registrars for charging fees in the on-going e-dividend registration exercise. Nigeria small investors’ unclaimed dividend currently stands at about N90 billion. Investigations revealed that SEC had been inundated with complaints from shareholders who heeded the campaign and went to banks and […]

Subsidy Fraud: Shippers’ Council, CBN Saved $2.7bn

Subsidy Fraud: Shippers’ Council, CBN Saved $2.7bn

As the Federal Government finally ended the fuel subsidy regime, the Nigerian Shippers Council (NSC) has given graphic details of how it collaborated with the Central Bank of Nigeria to save the nation a whopping $2.7 billion fraud plotted by influential oil cabals in the country in the last five years. According to the Executive […]

CBN Mops Up N4.3bn With OMO Intervention

The Central Bank of Nigeria (CBN) has disclosed excess liquidity permeated the banking system reasonably well in 2015. In its half year activity report in Financial Markets Department it made available on its website at the weekend, the apex bank noted liquidity was influenced by fiscal injections through Statutory Revenue Allocations (SRA), Value Added Tax […]

EFCC Discloses Alleged N4.8bn Money Transfer

EFCC Discloses Alleged N4.8bn Money Transfer

Two sons of former Minister of State for Defence, Musiliu Obanikoro, Babajide and Gbolahan Obanikoro are currently on the radar of the Economic and Financial Crimes Commission, EFCC. Sources at the anti-graft agency disclosed that about N4.75billion was traced to a company, Sylvan McNamara Limited, in which the two men have interest. Operatives believe the […]

Access Bank Hosts Anti-Fraud Forum

Access Bank Hosts Anti-Fraud Forum

Access Bank Plc will host stakeholders involved in anti-fraud functions in various banks at a forum in Lagos. The forum, with the theme: “Fraud Management – The need for a Harmonised Approach” is an initiative of the lender to engage stakeholders on how to proactively solve the industry’s fraud challenges and to minimise frauds with […]

Bank Marketer Docked For N530,000 Fraud

Bank Marketer Docked For N530,000 Fraud

A bank marketer, Ojo Biodun, was on Friday docked at an Ejigbo Magistrates’ Court 1, Lagos, for allegedly defrauding Stanbic IBTC Bank of N530,000. Biodun, 31, is standing trial on a two-count charge of fraud and theft. The prosecutor, Sgt. Babaji Ishaku told the court that the accused had between November 2014 and April 9 […]

Osinbajo: Naira Won’t Be Devalued

Osinbajo: Naira Won’t Be Devalued

The Federal Government on Thursday again ruled out the possibility of devaluing the nation’s currency, saying it was not an appropriate option in the current economic realities. Vice President Yemi Osinbajo reiterated the government’s position while receiving the Italian Ambassador in Nigeria, Mr. Fulvio Rustico; and the Canadian High Commissioner in Nigeria, Mr. Perry Calderwood, […]

Notable Economists Supports Sanusi On Naira Devaluation

Notable economists across the country have joined a former Central Bank of Nigeria Governor, Lamido Sanusi, to call for the devaluation of the naira, saying failure to do so will hurt the economy further. Sanusi, who is the Emir of Kano, had on Thursday at the All Africa Business Leaders’ Awards in Lagos, advised President […]

CBN Seeks Greater Protection For Bank Customers

The Central Bank of Nigeria (CBN) in furtherance of its mandate to promote a sound financial system has embarked on the development of a Consumer Protection Framework (CPF) for the banking industry. The purpose of the CPF is to amongst other things engender public confidence in the financial system with a view to enhancing financial […]

Nigerian Firms In Trouble As Central Bank Measures Backfire

Abuja – Nigerian companies making anything from soap to tomato paste could run out of raw materials and be forced to shut down as Africa’s top oil producer has effectively banned the import of almost 700 goods to prevent a currency collapse. Selected luxury items such as make-up or brown bread imported from Europe have […]

Page 2 of 512345
Contact Us